Exchange/Sale of Personal Property

Exchange/Sale is an authority provided by Section 503 of Title 40, United States Code, under which executive agencies, when acquiring replacement property, may exchange or sell similar items and may apply the exchange allowance or proceeds of sale in whole or in part payment for the property acquired.

When replacing personal property, agencies should consider the use of the Exchange/Sale authority before considering any other disposal option.

Further guidance on the Exchange/Sale authority may be found in FMR Bulletin B-48 [PDF - 80 KB]. Frequently-Asked-Questions (FAQs) are also addressed at the link on the left side of this page.

The regulations on Exchange/Sale are contained in the Federal Management Regulation (FMR) at Part 102-39 (41 CFR 102-39). Information on requesting waivers to those regulations can be found here.

Last Reviewed: 2019-08-02