Transfer with reimbursement refers to the process of moving excess personal property between federal agencies, where the receiving agency must pay the holding agency for the property. This arrangement ensures that the government recoups some of the costs associated with maintaining and managing surplus items.
This term is primarily used in the context of federal property management and procurement. It is relevant in legal practices involving government contracts, property management, and federal agency operations. Users may encounter this term when dealing with forms related to property transfers or when seeking to acquire surplus items through federal channels. Tools like US Legal Forms can provide templates to assist with the necessary documentation.
Here are a couple of examples of abatement:
Example 1: A federal agency has surplus office equipment that it no longer needs. Another agency requires this equipment for its operations. The second agency can request the equipment and must reimburse the first agency for its value.
Example 2: A government research facility has excess laboratory supplies. A nearby agency conducting similar research can obtain these supplies through a transfer with reimbursement agreement. (hypothetical example)
Transfer with reimbursement is governed by the Federal Management Regulation, specifically 41 CFR 102-36, which outlines the rules for the disposition of excess personal property among federal agencies. This regulation ensures compliance with federal property management standards.
| Term | Definition | Key Difference |
|---|---|---|
| Transfer without reimbursement | A transfer of property where no payment is required from the receiving agency. | This type of transfer does not involve any financial transaction between agencies. |
| Sale of excess property | The process of selling surplus items to the public or private entities. | Sales involve a market transaction, while transfers with reimbursement occur between government entities. |
If you are involved in a transfer with reimbursement, ensure you understand the valuation process for the property being transferred. It may be beneficial to consult with your agency's property management office for guidance. Additionally, consider using US Legal Forms to access templates for the necessary documentation to streamline the process. If complexities arise, seeking professional legal assistance may be advisable.
Browse our library of 85,000+ state-specific legal templates.
It allows federal agencies to manage excess property efficiently while recouping costs associated with maintaining that property.