About E-Surplus

E-Surplus was specifically developed as an on-line auction program for sellers that have compliance regulations. In addition to the compliance features, it provides the maximum proceeds to the seller with competitive bidding from a specialized audience with minimal participation from the seller.

The features of this on-line program have been specifically developed for your surplus asset needs.

Highlighted Features

• Ensures compliance with federal, state and local regulations regarding public postings of surplus items, and sales tax reporting and remittances
• Internal and external reporting capabilities
• Descriptive fields allow the client to use their specific item identifications and descriptions for monitoring and tracking capabilities

How it Works:

Regulatory Posting

• Surplus items are posted for a specific time period, as required by the seller’s regulatory agency that enables the exchange or transfer of items between entities if so desired. This would be advantageous for state entities, for example, where transfers are encouraged for the first 30 to 90 days of posted items

Public Auction

• Once the regulatory posting period has elapsed, surplus items that haven’t been transferred migrate to a highly marketed public auction. Bidders view your surplus equipment and post competitive bids. Once the bid is closed, payment is collected and remitted to your bank account.