Handbook of Business Procedures
February 17, 2005
July 7, 2014
16.3.3. TRADE-IN OF EQUIPMENT
When equipment is traded in for new equipment, a description of the item to be traded in, including the inventory number, must be shown in the requisition for each purchase of new equipment. The same information must appear on the purchase order or other prior approved alternate documentation. Before an item of equipment is relinquished, the inventory number plate must be removed. The trade-in value of the relinquished property is added to the new item(s) acquired.
Trade-ins of equipment must be processed through an Inventory Removal Request (IRR) upload template submission to Inventory Services, and a purchase order number must be included with the emailed template. Trade-in items must be university owned. If the department wishes to trade in federal or private-owned equipment, contact the Federal Inventory team at INVFED@austin.utexas.edu for assistance with obtaining disposition instructions from the sponsoring agency prior to trade-in of equipment.