Ohio UniversityWITHDRAWN Policy and Procedure

55.072:  Sale of University Property

WITHDRAWN as of April 23, 2007

[Consolidated into Policy and Procedure 55.071.]


Status:

Approved on January 6, 2004Signatures and dates
on archival copy

Effective:

when approved 

Initiated by:

Mary Patacca
Director of Procurement Services
 

Reviewed by:

Herman ("Butch") Hill, Chair
Policy and Procedure Review Committee
 

Endorsed by:

Gary North
Vice President for Administration and Finance
 

Approved by:

Stephen Kopp
Provost
 


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Purpose

This policy supplies guidelines for selling surplus property via a sealed bid procedure or via a web auction (e.g., e-bay).


Policy

University surplus may be sold by sealed bid procedure. Bids received will be awarded to the highest bidder as follows:

  1. Bids will be awarded to the highest bidder when the bid is determined to be reasonable, i.e., commensurate with the fair market value of the property.

  2. Bids will be rejected if they are below fair market value, improperly filled out, or lacking in required details. Ohio University may, upon rejecting all bids, re-bid at a later date, or offer the item for open sale.

  3. Equal or tie bids will be awarded based on the stamped submission date and time. The first bidder will be the successful bidder.


Procedures

A sealed bid or a web auction procedure, for the sale of surplus items, will be used only when other University departments or state institutions do not desire the items, and those items are also unsuitable for sale at an on-site, public auction.

Any department may request that an item be sold through a sealed bid procedure or web auction rather than on-site auction. The department is encouraged to suggest possible bidders. To request a web-auction, use the Surplus Sale Form.

The Surplus Management Office will make the final determination as to method of sale for all surplus, and will sell the item via on-site auction, or refer the item for sale by the Purchasing and Contracting Office as appropriate according to Policy 55.071, "Disposition of Surplus or Excess Equipment."

Successful bidders must pick up their purchases within five (5) workdays following the bid opening, unless special arrangements are made with the Surplus Management Office or the Purchasing and Contracting Office, as appropriate. Failure to meet pick-up schedule may result in forfeiture of the property concerned.

Withdrawal of items prior to bid opening may occur if it is determined that an item is of further use at Ohio University or another state institution.


Reviewers

Proposed revisions of this policy should be reviewed by:

  1. Policy and Procedure Review Committee

  2. Assistant Vice President for Finance

  3. Associate Vice President for Administration for Facilities and Auxiliary Services


Forms

The following forms are specific to this policy:

  1. The Surplus Sale Form is available at http://www.finance.ohiou.edu/forms/ - choose "Purchasing".


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Dick Piccard revised this file (http://www.ohio.edu/policy/55-072.html) on May 15, 2013.

Please E-mail any comments or suggestions to "policy@ohio.edu".