Page:United States Statutes at Large Volume 116 Part 2.djvu/305

 PUBLIC LAW 107-217—AUG. 21, 2002 116 STAT. 1087 § 544. Validity of transfer instruments A deed, bill of sale, lease, or other instrument executed by or on behalf of an executive agency purporting to transfer title or other interest in surplus property under this chapter is conclusive evidence of compliance with the provisions of this chapter concerning title or other interest of a bona fide grantee or transferee for value and without notice of lack of compliance. § 545. Procedure for disposal (a) PUBLIC ADVERTISING FOR BIDS. — (1) REQUIREMENT. — (A) IN GENERAL.— Except as provided in subparagraph (B), the Administrator of General Services may make or authorize a disposal or a contract for disposal of surplus property only after public advertising for bids, under regulations the Administrator prescribes. (B) EXCEPTIONS.— T his subsection does not apply to disposal or a contract for disposal of surplus property— (i) under subsection (b) or (d); or (ii) by abandonment, destruction, or donation or through a contract broker. (2) TIME, METHOD, AND TERMS.— The time, method, and terms and conditions of advertisement must permit full and free competition consistent with the value and nature of the property involved. (3) PUBLIC DISCLOSURE.—B ids must be publicly disclosed at the time and place stated in the advertisement. (4) AWARDS.—An award shall be made with reasonable promptness by notice to the responsible bidder whose bid, conforming to the invitation for bids, is most advantageous to the Federal Government, price and other factors considered. However, all bids may be rejected if it is in the public interest to do so. (b) NEGOTIATED DISPOSAL. —Under regulations the Administrator prescribes, disposals and contracts for disposal may be negotiated without regard to subsection (a), but subject to obtaining competition that is feasible under the circumstances, if— (1) necessary in the public interest— (A) during the period of a national emergency declared by the President or Congress, with respect to a particular lot of personal property; or (B) for a period not exceeding three months, with respect to a specifically described category of personal property as determined by the Administrator; (2) the public health, safety, or national security will be promoted by a particular disposal of personal property; (3) public exigency will not allow delay incident to advertising certain personal property; (4) the nature and quantity of personal property involved are such that disposal under subsection (a) would impact an industry to an extent that would adversely affect the national economy, and the estimated fair market value of the property and other satisfactory terms of disposal can be obtained by negotiation; (5) the estimated fair market value of the property involved does not exceed $15,000;

�