41 CFR 102-75.885 - What are the disposal agency's responsibilities concerning negotiated sales?
The disposal agency must -
(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.