[Code of Federal Regulations]
[Title 41, Volume 3]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 41CFR102-38.75]

[Page 142-143]
 
           TITLE 41--PUBLIC CONTRACTS AND PROPERTY MANAGEMENT
 
               CHAPTER 102--FEDERAL MANAGEMENT REGULATION
 
PART 102-38_SALE OF PERSONAL PROPERTY--Table of Contents
 
                         Subpart B_Sales Process
 
Sec. 102-38.75  How may we sell personal property?

                             Methods of Sale


    (a) You may sell personal property upon such terms and conditions as 
the head of your agency or designee deems proper to promote fairness, 
openness, and timeliness. In selling personal property, you must 
document the required terms and conditions of each sale, including, but 
not limited to, the following terms and conditions, as applicable:
    (1) Inspection.
    (2) Condition and location of property.
    (3) Eligibility of bidders.
    (4) Consideration of bids.
    (5) Bid deposits and payments.
    (6) Submission of bids.
    (7) Bid price determination.
    (8) Title.
    (9) Delivery, loading, and removal of property.
    (10) Default, returns, or refunds.
    (11) Modifications, withdrawals, or late bids.
    (12) Requirements to comply with applicable laws and regulations.

[[Page 143]]

    (13) Certificate of independent price determinations.
    (14) Covenant against contingent fees.
    (15) Limitation on Government's liability.
    (16) Award of contract.
    (b) Standard government forms (e.g., Standard Form 114 series) may 
be used to document terms and conditions of the sale.
    (c) When conducting and completing a sale through electronic media, 
the required terms and conditions must be included in your electronic 
sales documentation.