Disposal refers to the sale or destruction or decision regarding assets and property which are unserviceable and/or are no longer needed. The UPM Disposal and Appraisal Committee shall oversee the condemnation, disposal and sale of unserviceable equipment and materials of the University.
Methods of disposal are as follows:
H.1 Condemnation - valueless or unsaleable property shall be condemned either by burning, pounding or throwing beyond recovery;
H.2 Transfer to other agencies of the National or Local Government with or without cost;
H.3 Donation to Charitable, Scientific, Educational or Cultural Associations;
H.4 Public Auction - sealed Public Bidding or Viva Voce;
H.5 Negotiated or Private Sale;
H.6 Barter – direct exchange of goods/commodities without the use of money and without reference to price (COA Circular No. 89-296 dated 27 January 1989)10.
The sale of unserviceable property at public auction is conducted by the Bids and Awards Committee (BAC) 3. The Chancellor is authorized to approve and sign contract for the sale of condemned or disposable equipment or any other personal property of the University where the amount involved in any one transaction does not exceed One Hundred Thousand Pesos (P100,000.00) per transaction; provided that such sale is reported to the UP President.
(Source: COA Circular No. 89-296 dated 27 January 1989 (Audit Guidelines on the Divestment or Disposal of Property and Other Assets)10