Trading in Capital Equipment Assets
Departments can trade-in existing capital equipment assets on new capital equipment asset purchases. The University must have title to the equipment before it can be traded-in. Accounting Services can verify the University has title to the equipment. Contact Accounting Services at [email protected] for assistance in determining ownership.
- Complete UM 1744: Capital Equipment Asset Trade In Form from the Forms Library.
- Indicate how much trade-in allowance or value you are receiving from the vendor
- Reference the purchase order and voucher number of the new item(s) to be obtained in the trade
- Dean, department head, or administrator's signature is required on this form. Approval authorization can be delegated based on the President's Delegations of Authority Program: FN02 - External sales of good and services.
- The trade-in cannot occur if it has not been approved by Accounting Services