Common use of TRADE-INS Clause in Contracts

TRADE-INS. Authorized Users may trade-in equipment when making purchases from this Contract. Trade-ins must be worked out between the Authorized User and the Contractor. Authorized Users are obligated to actively seek current fair market value when trading equipment and must keep accurate records in the file verifying the process. For State Agencies, it may be necessary to provide this documentation to the Office of the State Comptroller.

TRADE-INS. Authorized Users may trade-in equipment when making purchases from this Contract. Trade-ins must be worked out between the Authorized User and the ContractorContractor (also see trade-in for remanufactured items in Clause 4.A.3). Authorized Users are obligated to actively seek current fair market value when trading equipment and must keep accurate records in the file verifying the process. For State Agencies, it may be necessary to provide this documentation to the Office of the State Comptroller.