A University of Washington purchasing option.  It consists of a Visa charge card utilized for most business related purchases, but it should never be used for personal expenditures.  The card can purchase items up to $3,300 per transaction.  The system includes an online (PaymentNet) method for transaction reviews and budget reallocation.  It is available to any University staff or faculty with appropriate authorization from their Department Head and the ProCurement Card Administrator.

Combining certain items together as a system (one inventorial asset) as allowed by State and/or University policy.

Relocation from one area to another.

Sometimes referred to as a guarantee, a warranty is an agreement which calls for the replacement or repair of tangible personal property with no additional charge for parts or labor, or both, based upon the happening of some unforseen occurrence, e.g., the property needs repair within the warranty period.  (WAC 458-20-257)

Sometimes referred to as a service contract, a maintenance agreement is an agreement which requires the specific performance of repairing, cleaning, altering, or improving of tangible personal property on a regular or irregular basis to ensure its continued satisfactory operation.  (WAC 458-20-257)

The upkeep of property or equipment to preserve from failure and decline.

Equipment brought to the University for free use.  Even though no payment is involved, other costs such as insurance and repair costs may be incurred and need to be covered by a loan agreement that has been negotiated and signed by the appropriate departmental authority (department chair, director, or administrator).

Also included in this definition are exhibits and demonstration equipment.

Hard copy lists mailed to departments by Equipment Inventory, based in a schedule, for tracking inventorial assets.  Departments are required to perform a manual count and verify the location/serial number/custodian of each item listed.  All departments are required by state and federal regulations to complete a physical inventory on a regular schedule.  The Equipment Inventory Office (EIO) coordinates the process for all University of Washington departments.

Fellowships provide Fellows (individuals who have generally attained their graduate degree and help conduct research at the University) with research funds, which can include the purchase of necessary equipment.  The equipment may be purchased using any one of the University’s purchasing methods. At the conclusion of the research project, if stated in the grant from the sponsor, the equipment may become the personal property of the Fellow.

The transformation of salaries, benefits, supplies and materials, services, equipment, maintenance, and/or travel into one or more items of customized capital equipment for University of Washington use.