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METHOD OF SELLING SUU—jS �s end describing the .perty and specifyins\ e <br /> conditions of sale, location of property, 'a"nd <br /> Sales are conducted whenever there is sufficient inspection and sales dates are distributed well in <br /> surplus property to interest prospective buyers, advance of the sale to prospective buyers. In <br /> Sales are open to the general public and property auctions,mailed-in bids are not acceptable;bidders <br /> is offered in quantities that encourage must be present to participate. <br /> participation by business concerns of all sizes, as <br /> well as individuals. As a rule, the property is sold Spot Bid <br /> by one of the following methods: <br /> Sealed Bid Normally, this method is used when there is a <br /> variety of commercial type property for which <br /> there is substantial interest and demand in a local <br /> Normally, this method is used to sell large or regional market.The prospective buyers inspect <br /> quantities of individual items of surplus property the property and submit bids on forms provided <br /> having a commercial or technical application <br /> which are of interest to divergent buyer groups on by the selling activity. In spot bid sales, mailed-in <br /> g y g p bids, unless otherwise specifically precluded, are <br /> a local, regional, or national marketing basis.Scrap acceptable and bids may be submitted on items <br /> and waste materials are usually sold by this during the conduct of the sale; awards are made <br /> method. item by item as the sale progresses. <br /> Term sales using this method are employed <br /> when property is not immediately available for Local <br /> delivery and is required to be removed as it is <br /> generated. The duration of this type sale usually Local auctions and spot bid sales are frequently <br /> extends from 3 to 12 month periods. The type of held at military activities where a wide variety of <br /> property sold generally consists of waste and scrap small quantities of commercial use property is <br /> of all kinds. located. These sales are conducted in the same <br /> Prospective bidders are notified of such sales by manner as described above except they are <br /> invitations for bid (IFBs in the form of sales <br /> catalogs). An IFB lists and describes the property publicized in the local area rather than nationally. <br /> Persons interested should contact the sales office <br /> offered for sale, identifies the place where the sale which serves the geographical area in which they <br /> will be held, specifies the conditions under which are located in order to be notified of these sales. <br /> the property is offered for sale, gives the location <br /> of the property, sets forth the inspection and the Negotiated <br /> sale dates, and designates the person to contact for <br /> further information. IFBs are mailed well in While the majority of surplus personal property <br /> advance of the date of sale (bid opening date) to <br /> allow sufficient time for inspection of the is sold by publicly advertising for bids, negotiated <br /> property. The prospective buyers enter the prices sales are authorized in certain limited <br /> they will pay on the bid forms contained in the circumstances; for example, when acceptable bids <br /> IFB, complete other forms that are also a part of have not been received after public advertising or <br /> when expeditious disposition is necessary because <br /> the IFB and return the forms to the specified <br /> of public exigency, publir health, safety, or <br /> selling activity along with the required deposit. o national security. Negotiated sales may also be <br /> The bids are then publicly opened on the specified used where the disposal will be to States, <br /> date of sale. Subsequently, awards are made and <br /> the bidders are notified. Territories, possessions, political subdivisions <br /> thereof, or tax-supported agencies therein where <br /> Auction the estimated fair market value of the property <br /> and other satisfactory terms of disposal are <br /> This method is used when a substantial quantity obtained by negotiation. States or municipalities <br /> or variety of property having wide commercial which are interested in acquiring specific items of <br /> application is being offered for sale. IFBs listing surplus by this method should communicate with <br /> 6 7 <br />