Overview
Capital equipment has a value of $5,000 or more, has a normal life expectancy of one year or more, and is not expendable. When purchasing capital equipment, departments have the option to lease or buy. Capital equipment is tagged by Controller’s Office Capital Asset Management group.
When Does Equipment Purchase/Lease Apply?
When purchasing capital equipment, the department has two purchasing options:
- Option A: Buy
- The department needs to obtain and attach three quotes to the requisition
- The department must provide the delivery date
- Option B: Lease
- When departments want to spread out the payments into multiple equal payments, normally 36 to 60 months
- Your Supply Chain Management buyer will work with the supplier’s in-house financing, or will seek financing with a UCOP-approved lessor
Things I Need to Know or Do
- Attach all necessary documents per instructions on the Capital Equipment Form found within BearBuy
- Engage early with your Supply Chain Management Buyer since some leases may take a longer lead time as equipment may have to be made to specifications
- A four-digit inventorial Custody Code must be provided. If you do not know your Custody Code, inquire with your department’s designated Asset Custodian)