GSA: Exchange Sale Authority

Personal property utilization can be maximized through use of the Exchange/Sale Authority. Property currently owned can be “exchanged” for replacement property or “sold” and the proceeds applied to replacement property.

US Code 40, Section 503

(a) Authority of Executive Agencies. - In acquiring personal property,an executive agency 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.
See code 40, section 503 here.

Federal Management Regulations

Part 102-39-Replacement of personal property pursuant to the exchange/sale authority.

Visit the Official Federal Government Desk Reference Guide to learn how.