Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 41 - Public Contracts and Property Management |
Subtitle C - Federal Property Management Regulations System |
Chapter 102 - Federal Management Regulation |
SubChapter B - Personal Property |
Part 102-38 - Sale of Personal Property |
Subpart A - General Provisions |
Responsibilities |
§ 102-38.55 - What must we do when selling personal property?
Latest version.
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§ 102-38.55 What must we do when selling personal property?
When selling personal property, you must ensure that -
(a) All sales are made after publicly advertising for bids, except as provided for negotiated sales in §§ 102-38.100 through 102-38.125; and
(b) Advertising for bids must permit full and free competition consistent with the value and nature of the property involved.