Utah Admin. Code R354-1-109 - Sale of Previously Purchased Procurement Items-Limitations

(1) As used in this section:

(a) "Buyback purchaser" means a person who buys a Procurement Item from the CRAU to which the person previously sold the Procurement Item.

(b) "Excess repurchase amount" means the difference between:

(i) the amount a buyback purchaser pays to the CRAU to purchase a Procurement Item that the buyback purchaser previously sold to the CRAU; and

(ii) the amount the CRAU paid to the buyback purchaser to purchase the Procurement Item.

(2) The CRAU that sells a Procurement Item to a buyback purchaser for an amount that exceeds the amount the CRAU paid for the Procurement Item:

(a) shall require the buyback purchaser to pay cash for the Procurement Item;

(b) may not accept the excess repurchase amount in the form of a credit, discount, or other incentive on a future purchase that the CRAU makes from the buyback purchaser; and

(c) may not use the excess repurchase amount to acquire an additional Procurement Item from the person who paid the excess repurchase amount.

Notes

Utah Admin. Code R354-1-109

Adopted by Utah State Bulletin Number 2022-02, effective 12/28/2021