b) Steps to be followed when Disposing of stores:

i) Identify the item of store or equipment to be disposed off.

ii) Head of department convenes a Board of Survey (BOS) to make a technical assessment of the store or equipment to be disposed of and make a recommendation in a report to the head. Head of department based on BOS report seeks approval from the appropriate quarters (e.g., minister).

iii) The disposal process is initiated based on the method approved for use (transfer to other government institutions, public tender, or public auction).

iv) The stores and vehicles are valued by an approved and reputable public or private professional agency with the requisite technical knowledge.

v) In case of public auction, the following procedures are followed: a. The stores and vehicles are valued by an approved and reputable public or private professional agency with the requisite technical knowledge. b. The valuation report is submitted to the office of the President and head of the Agency. c. The value submitted is used as the selling price (bargaining benchmark) to the public auction. d. A date for auction is agreed with the head of the agency or department. e. An advertisement is placed in the national newspapers for the date and place of the auction and the items to be auctioned. f. On the auction day, the highest bidder above the benchmark wins.

(5 points for 5 marks)