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Terrapin Trader is the University's on-going surplus
operation. Terrapin Trader Property Release Forms are used to identify
items deemed surplus by the owning department. Computers, printers, desks,
chairs, and tables are among the kinds of inventory processed by the Terrapin
Trader. Pick up of surplused equipment is made free of charge to University
departments. Terrapin Trader determines the price of property sold through
its showroom (sometimes in consultation with department personnel). Sales
are made on a "first come" basis and items are sold "as is" with no warranties
PROPERTY THROUGH TERRAPIN TRADER
Terrapin Trader Location and Hours
University surplus property is available through the Terrapin Trader
located in the Severn Building 5245 Greenbelt Road, College Park, MD 20740 Phone: (301)405-5267 Fax: 301-314-7947.
Click here for directions
Shoppers are welcome during the following hours:
Closed Mondays and UMCP Holidays
Terrapin Trader Showroom
All items displayed on the Showroom
Floor are available through either our weekly priority sale system
with departments having the first preference or through competitive
sealed bids. Showroom floor items are selected for purchase by removing
the bottom portion of the identification/price tag. To submit a
bid ask for a bid packet at the point-of-sale referencing the item
number for which you wish to bid.
Weekly Priority Sales System
Items on the Terrapin Trader Showroom floor are sold according to
the following schedule:
At all times University of Maryland
After 1 week Other State of Maryland
After 2 weeks Other not-for-profit
agencies and UMCP faculty, staff, and students (with appropriate
After 3 weeks General Public
Exception: Items where bids are solicited. These items are
available to all on a sealed bid basis. The Terrapin Trader Manager
determines if items are showroom or bid items.
Conditions of Sale
Sales are made on a "first come" basis. Items are not held. Items
are sold "as is" with no warranties or guarantees.
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Methods of Payment
Bill to KFS account number referenced on UMCP Internal Services
Request form, P-Card or memo on letterhead signed by the appropriate budgetary
authority. Purchases will be referenced on monthly account statements
under Subcode 3916 Office Supplies (to prevent duplication of items
already on Inventory).
Other Campuses and State Agencies:
Bill to STARS account number referenced in memo on letterhead signed
by a proper budgetary authority.
Other Organizations and Individuals:
Business checks, Personal checks with a photo ID, Money orders,
American Express, Visa, Mastercard or Discover. Internal Service Request(ISR) and
STARS account also accepted. University faculty, staff, and student
identification may be required. The Terrapin Trader is not authorized
to accept cash.
A purchase by a University department may be picked up by an authorized
employee of that department with proper identification. The department
will be sent notification of the purchase. In addition, free delivery
is normally available by Terrapin Trader to University departments
served by UMCP Central Receiving. If items are physically too large
or heavy for Terrapin Trader delivery, the University's Traffic
Manager will assist the department in making transportation arrangements
at the department's expense. Purchases by customers other than UMCP
departments are to be removed from Terrapin Trader premises at the
time of sale.
OF SURPLUS PROPERTY THROUGH TERRAPIN TRADER
Terrapin Trader Property Release Forms ("Trader Form") are used to
identify items deemed surplus by the owning department. Trader forms,
available through Procurement and Supply, may be photocopied.
Call For Pickup (301) 405-7337
The owning department head can authorize the discarding of items not
on Inventory which have no current practical or monetary value. In
all other cases, departments complete a Trader form and call Terrapin
Trader to receive a Terrapin Trader transaction number and to arrange
for pick-up of surplus items. After the driver signs the Trader form,
the department makes a copy for its file and gives the form to the
driver. Pick up is normally made free of charge to University departments
served by UMCP Central Receiving. When items are physically too large
or heavy for pickup by Terrapin Trader, the University's Traffic Manager
will make arrangements with the Physical Plant or outside companies
to provide rigging if needed and transportation to the Terrapin Trader.
It is necessary that the department releasing the property pay for
these additional removal costs.
Terraping Trader will determine the price of property sold through
its showroom using trade publications, trade-in allowances, pricing
from other surplus property operations, and marketplace experience
as guide. Terrapin Trader will consult with department personnel in
pricing specialized items.
Proceeds from Sale
Net proceeds from surplus items, established in accordance with the
department compensation scale, are to be transferred to originating
departments. The revenue is to provide an incentive for originating
departments to use the service and to help cover costs of administering
the program. This helps minimize paperwork and ensure that procedures
are cost effective. Credit will appear on the monthly account statement
for the FRS account indicated on the Trader form under subcode 3772
Reimbursable Contractual Services. The department compensation scale
is based on sale of an item or group of like items (for example 5
like chairs) as follows:
Price less $50.00
and over 80%
of Sales Price
Compensation to departments for items which remain in the department
during the sale process will be handled on a case by case basis.
Donating to Not-For-Profit Entities
Terrapin Trader encourages departments to inform them of school systems
and other non-for-profit entities that have need for surplus items
which do not sell in the showroom.
Pickup or visit site within one week of request.
Sell or dispose of surplus property within 90 days or less on average.
Terrapin Trader will send a copy of the completed
Trader form to the releasing department and Inventory Control for
inventory adjustments. Capital equipment remains on the inventoryof
the owning department until notice of final disposition by Terrapin
Trader. The Comptroller's Office will transfer Inventory items purchased
by another UM department to the purchaing department's Inventory at
the original purchase price.