PUR 502–06: Equipment on Loan or Demonstration
To establish guidelines for accounting for equipment that is on loan or demonstration and not owned by the university
Allowing equipment to be left in a department by sales representatives on a loan or demonstration basis does not constitute a commitment to buy. User department personnel should in no way indicate to suppliers that the loan or demonstration of equipment constitutes a preference for that equipment or will result in an order for purchase.
The individual planning to receive equipment on loan or demonstration must inform Purchasing and Business Services by submitting a completed Equipment on Loan or Demonstration form before accepting the equipment. If any costs are to be incurred, a requisition for these costs must accompany the Equipment on Loan or Demonstration form.
The university assumes no responsibility for equipment on loan or demonstration unless the user has submitted an Equipment on Loan or Demonstration form.
Suppliers who desire to make arrangements for loans or demonstrations of their products on campus must coordinate these plans with the appropriate buyer in Purchasing and Business Services.
Unless special arrangements are made with the chief procurement officer, the supplier is responsible for all moving, handling, transportation, and installation costs for loaned equipment. If the supplier who loaned the equipment is the successful bidder for that equipment, that supplier must supply new equipment unless Purchasing and Business Services and the user agree to accept the loaned equipment at a negotiated lower price.
Purchasing and Business Services will file a copy of the Equipment on Loan or Demonstration form with Risk Management.
Requisitions for the purchase of equipment on loan or demonstration will be treated in the same manner as other requisitions. Competitive bidding procedures, if applicable, will be required.