41 CFR §109-45.304-51 — Documentation.
Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
Files pertaining to surplus property sales shall contain copies of all documents necessary to provide a complete record of the sales transactions and shall include the following as appropriate:
- (a)A copy of the request/invitation for bids if a written request/invitation for bids is employed. A list of items or lots sold, indicating acquisition cost, upset price and sales price indicated.
- (b)A copy of the advertising literature distributed to prospective bidders.
- (c)A list of prospective bidders solicited.
- (d)An abstract of bids received.
- (e)Copies of bids received, including Standard Form 119, Contractor's Statement of Contingent or Other Fees, together with other relevant information.
- (f)A statement concerning the basis for determination that proceeds constitute a reasonable return for property sold.
- (g)When appropriate, full and adequate justification for not advertising the sale when the fair market value of property sold in this manner in any one case exceeds $1,000.
- (h)A justification concerning any award made to other than the high bidder.
- (i)The approval of the reviewing authority when required.
- (j)A copy of the notice of award.
- (k)All related correspondence.
- (l)In the case of auction or spot bid sales, the following additional information should be included:
- (1)A summary listing of the advertising used (e.g., newspapers, radio, television, and public postings).
- (2)The names of the prospective bidders who attended the sale.
- (3)A copy of any pertinent contract for auctioneering services and related documents.
- (4)A reference to files containing record of deposits and payments.