The following definitions apply to this part:
Acquire means to procure or otherwise obtain personal property, including by lease (sometimes known as rent).
Combat material means arms, ammunition, and implements of war listed in the U.S. munitions list (22 CFR part 121).
Excess property means any personal property under the control of any Federal agency that is no longer required for that agency's needs or responsibilities, as determined by the agency head or designee.
Exchange means to replace personal property by trade or trade-in with the supplier of the replacement property.
Exchange/sale means to exchange or sell non-excess, non-surplus personal property and apply the exchange allowance or proceeds of sale in whole or in part payment for the acquisition of similar property.
Executive agency means any executive department or independent establishment in the executive branch of the Government, including any wholly owned Government corporation.
Federal agency means any executive agency or any establishment in the legislative or judicial branch of the Government (except the Senate, the House of Representatives, and the Architect of the Capitol and any activities under his/her direction).
Historic item means property having added value for display purposes because its historical significance is greater than its fair market value for continued use. Items that are commonly available and remain in use for their intended purpose, such as military aircraft still in use by active or reserve units, are not historic items.
Replacement means the process of acquiring personal property to be used in place of personal property that is still needed but:
(1) No longer adequately performs the tasks for which it is used; or
(2) Does not meet the agency's need as well as the personal property to be acquired.
Service Life Extension Program (SLEP) means the modification of a personal property item undertaken to extend the life of the item beyond that which was previously planned. SLEPs extend capital asset life by retrofit, major modification, remanufacturing, betterment, or enhancement.
Similar means the acquired item(s) and replaced item(s):
(1) Are identical; or
(2) Fall within a single Federal Supply Classification (FSC) Group of property (includes any and all forms of property within a single FSC Group); or
(3) Are parts or containers for similar end items; or
(4) Are designed or constructed for the same purpose (includes any and all forms of property regardless of the FSC Group to which they are assigned).
Surplus property means excess personal property not required for the needs of any Federal agency, as determined by GSA under part 102-37 of this chapter.
[66 FR 48614, Sept. 21, 2001, as amended at 73 FR 50880, Aug. 29, 2008]