§ 109-1.5203 Management of subcontractor-held personal property.

Designated contractors shall require those subcontractors provided Government-owned personal property to establish and maintain a system for the management of such property. As a minimum, a subcontractor's personal property management system shall provide for the following: (a) Adequate records. (b) Controls over acquisitions. (c) Identification as Government-owned personal property. (d) Physical inventories. (e) Proper care, maintenance, and protection. (f) Controls over personal property requiring special handling (i.e., nuclear-related, proliferation-sensitive, hazardous, or contaminated property). (g) Reporting, redistribution, and disposal of excess and surplus personal property. (h) Accounting for personal property that is lost, damaged, destroyed, stolen, abandoned, or worn out. (i) Periodic reports, including physical inventory results and total acquisition cost of Government property. (j) An internal surveillance program, including periodic reviews, to ensure that personal property is being managed in accordance with established procedures.