Code of Federal Regulations Title 41. Public Contracts and Property Management § 41.102–75.885 What are the disposal agency's responsibilities concerning negotiated sales?

(a) Obtain such competition as is feasible in all negotiations of disposals and contracts for disposal of surplus property;  and

(b) Prepare and transmit an explanatory statement if the fair market value of the property exceeds $100,000, identifying the circumstances of each disposal by negotiation for any real property specified in 40 U.S.C. 545(e), to the appropriate committees of the Congress in advance of such disposal.