Terrapin Trader General Information

The Terrapin Trader is the University of Maryland’s on-going surplus property operation that handles the removal of university-owned equipment in environmentally responsible ways, such as sales, bids, and auctions. The store is open to UMD departments, other state agencies, faculty, staff, students and the general public.

 

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 bids. Showroom items can be purchased by removing the bottom portion of the perforated identification/price tag and presented to the cashier at the time of purchase.

Terrapin Trader Bid Items
Terrapin Trader routinely posts items on GovDeals for auction. Auctions include vehicles, machinery, lab equipment, and various other items. All auctions are open to the public and registration is free. To become a registered GovDeals bidder simply go to www.GovDeals.com and click on “Register”. To view the Terrapin Traders current auctions please go to www.govdeals.com/terrapintrader

Weekly Priority Sales System
Items on the Terrapin Trader Showroom floor are sold according to the following schedule:

At all times University of Maryland departments
After 1 week Other State of Maryland departments 
After 2 weeks Other not-for-profit agencies and UMCP faculty, staff, and students (with appropriate identification) 
After 3 weeks General Public

Exception: Items posted on GovDeals for auction. These items are available to all on a bid basis. The Terrapin Trader Manager determines if items are showroom or bid items.

The staff of the Physical Distribution Center (PDC) including the Terrapin Trader are authorized to acquire and /or bid on items from the Terrapin Trader. All guidelines set forth for University Staff also apply to PDC staff with the following exceptions:

  1. PDC/TT staff that set prices on showroom items can’t purchase that item.
  2. PDC/TT staff who receive/evaluate bids items can’t bid on that item.
  3. Prior to a PDC staff being awarded a bid item, the process must be reviewed by the Director of Construction & Facilities Procurement, Transportation and Physical Distribution.
  4. Should the Director of Construction & Facilities Procurement, Transportation and Physical Distribution successfully bid on an item, the process must be reviewed by the Assistant Vice President of Procurement & Strategic Sourcing prior to award.

Payment By: 
University of Maryland Departments: 
Bill to KFS account number referenced on UMCP Internal Services Request form (ISR) signed by the appropriate budgetary authority or The University Purchasing Card (P-Card). Purchases will be referenced on monthly account statements under Subcode 3916 Office Supplies.

Other Campuses and State Agencies: A memo on letterhead that is duly signed by the purchasing agency that states the bearer, by name, which must show proper ID, is authorized to purchase from the Terrapin Trader. The memo must indicate the appropriate invoicing method with account numbers and bill to address.

Not-for-Profit and Tax Exempt Entities: Proof of tax status must be on hand at the time of purchase so that taxes will not be a part of the total cost.

Faculty, Staff, Students & General Public:

For Showroom Items:
Full payment for purchased Surplus Property shall be made at the time of purchase. Payment shall be made with a credit card (American Express, Visa, Master Card, and Discover Card) or with a check made payable to the University of Maryland. The Terrapin Trader does not accept cash. Items purchased from the showroom must be removed at the time of purchase.

For Bid Items: 
The purchaser must make full payment and shall remove the item(s) within five (5) business days of notification of the award.

If payment has been received but the item(s) have not been removed within the required five business days, the Terrapin Trader at its sole discretion and without notice may retain payment and resell the property and retain the payment.

If a purchaser can establish just reasons for not removing the item(s) within the allotted five business days, the Terrapin Trader may extend the period. The purchaser must inform the Terrapin Trader within the original five-day pick-up period of any difficulties.

Default on an award of a bid may result in exclusion of the bidder from any future bidding at the Terrapin Trader. Bidding privileges may be reinstated when a re-listing fee of $100.00 or the difference between the highest bid and the second bid has been paid to the Terrapin Trader. The higher dollar amount is required to regain bidding privileges.

Payment shall be made to the Terrapin Trader with a credit card (American Express, Visa, Master Card, and Discover Card) or with a Cashier/Bank draft and made payable to the University of Maryland. We do not accept as payment on bid item (s) cash, personal or business checks. Maryland sales tax (6%) must be included in the purchase price unless tax except status is proven.
 

Transportation: 
An item purchased by a University of Maryland Department may be taken by the authorized purchaser, it may be picked-up by the department or it may be delivered free of charge by the Terrapin Trader. The free delivery by Terrapin Trader is available to all locations delivered to by Central Receiving and General Stores on a first come first serviced basis.
Should the items be too large and/or heavy or the volume too great for delivery by Terrapin Trader, the Transportation Manager will assist in making transportation arrangements at the department’s expense.
Purchases made by customers other than University of Maryland departments are required to remove the items from Terrapin Trader premises at the time of sale unless otherwise indicated in Terms and Conditions of sale.

Terrapin Trader Property Release Form
This form is used to identify items deemed surplus property by the owning department. The completed and signed form also authorizes the Terrapin Trader to act on behalf of the owning department to dispose of their surplus equipment. Complete the form before contacting the Terrapin Trader for a pick-up or a drop-off.

  • Complete form & obtain department head signature
  • To arrange for pick-up/drop off surplus property please call 301-405-5267 … you will receive a Terrapin Trader number specific to your pick-up/drop off request, place this number on all forms related to this pick-up/drop off. The Terrapin Trader Surplus Property Release number is the identification number/tracking number associated with the surplus items released to the Trader on this form. The Release number and item number (identifying a specific item) will be referenced on the monthly account statement when compensation is transferred to the owning department.
  • Please fax a copy of all related forms to 301-314-7947 or 301-314-9255
  • A Terrapin Trader staff member will call the contact person referenced on the surplus form to schedule a date & time for the pick-up
  • Have the driver sign the original form(s) when the pickup is made, then make copies for your records and give the original form(s) to the driver. Copies should be provided to the owning department’s inventory coordinator & department financial administrator as well.

Disposal of CRT Materials
The Terrapin Trader now charges for the disposal of CRT materials (TV's & Monitors) the cost will be $0.45 per lb. This charge will be billed to the KFS# referenced on the Terrapin Trader Surplus Property Release form. A receipt for the disposal charges will be emailed or faxed by the Terrapin Trader to the department contact referenced on the surplus form.

Terrapin Trader Surplus Property Cleaning Certification Form (Lab Equipment)
This form must be completed and accompany all laboratory equipment and any equipment that may have contained or been used with dangerous or hazardous material. The form is to be signed by an individual who has direct knowledge of all reasonable efforts to clean the equipment.

(SECF) Sensitive Equipment Cleaning Form (Computers or Electronic Storage Devices)
To ensure compliance with federal and state statutes associated with confidential information, such as the Health Information Portability and Accountability Act of 1996 (HIPAA) and the Family Educational Rights and Privacy Act (FERPA) and University software licensing agreements. The Terrapin Trader requires the removal of all data on computers or electronic storage devices* prior to surplusing. The Sensitive Equipment Cleaning Form (SECF) is required to accompany all sensitive equipment that contains personal or University information & software.

Terrapin Trader staff must audit all working computers to verify if software and data files have been removed. If any computer* surplused is found to contain data, the surplusing department will be charged for the audit and special handling costs which equal $100.00 per unit**

*Computer or electronic storage device including but not limited to hard drive, laptop, server, main frame, or handhelds/PDAs, cellphones and copiers.

**If additional labor time and/or expertise from an outside vendor are required to properly prepare equipment for sale or disposal, additional costs will be charged to the surplusing department above the base fee of $100.00.

Removal of the Surplus from the Owning Department
Pick-up is normally free of charge to University of Maryland departments that are serviced by Central Receiving and General Stores distribution personnel. Departments are expected to consolidate the items referenced on one TT form prior to pick-up. When items require the expertise of a rigging company because of size, weight or sensitivity, arrangements are made with a contract carrier. Any expenses incurred from additional transportation services will be paid for from the proceeds of the sale of the item or the owning department will be invoiced. There are times when the item(s) is to large and/or heavy that site sales are used.

Pricing Surplus Property
The Terrapin Trader will determine the price of property sold. The greater the information provided by the owning department, the easier the pricing process. The Terrapin Trader’s primary responsibility is to do what is best for the University, i.e. redistribute assets or sell for the greatest amount, etc.

Proceeds from the Sale of Surplus Property
Net proceeds from the sale of surplus property, 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. Credit will appear on the monthly account statement for the KFS account number referenced 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 (5 like chairs) as follows:

Sale Price Compensation to Department
Under $50.00 None
$50.01 to $250.00 Sale Price less $50.00
$250.01 and over 80% of Sale Price

Site Sales and Bids
Items that the Manager of Terrapin Trader determines should be sold through a bid process are photographed and placed on our GovDeals auction site for bid. Items may remain on the owning department’s premises or, if easily moved, they will be staged at the Terrapin Trader.

Donations to Not-For-Profit Entities
Terrapin Trader encourages departments to inform them of school systems and other not-for-profit entities that have a need for surplus items that do not sell through the showroom.

Capital Inventory Adjustments
Removal of Surplus Property from Inventory Records… Inventory Control is notified by the Terrapin Trader of all items once those items are picked-up and verified by matching serial numbers and asset tag numbers. Copies of the completed & signed Terrapin Trader Surplus Property Release forms are sent weekly to Inventory Control to facilitate the removal of Capital Equipment from the owning department’s inventory.

Terrapin Trader Goals
To schedule pick-up or site visit within seven (7) business days of request for pick-up.
To display surplus property that has a monetary value in Terrapin Trader within one week after pick-up