Property Control System Manual (PCS)

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Effective: 3/1/1984

Revised: 3/1/2010

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PCS 213: Loaned Equipment

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Purpose

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To identify and record equipment loaned to ASU by external agencies

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Sources

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Property Control
Purchasing and Business Services

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Policy

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ASU assumes no responsibility for non-owned equipment on loan or demonstration to ASU except by written agreement. The agreement must be signed by the appropriate person with signature authority. The Equipment on Loan or Demonstration form shall be submitted to Purchasing and Business Services to ensure proper insurance coverage through the Arizona Department of Administration, Risk Management Section.

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Exception

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For sponsor-owned property that is loaned, contact the ASU sponsored property coordinator in Property Control for specific procedures.

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Procedure

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The department:

  1. obtains an Equipment on Loan or Demonstration form from Purchasing and Business Services and prepares it before accepting the equipment

    and

  2. sends a photocopy of the form to Purchasing and Business Services.

Purchasing and Business Services sends a photocopy of the form to Insurance Services.

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Cross-Reference

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For more information on the university guidelines for accounting for equipment on loan or demonstration and not owned by the university, see the Purchasing and Business Services Policies and Procedures Manual—PUR 502–06, “Equipment on Loan or Demonstration.”

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