ASTM_E_3015_-_15.pdf

Designation:E301515Standard Guide forManagement of Customer-Owned Property Assets inPossession of Supplier,Contractor or Subcontractor1This standard is issued under the fixed designation E3015;the number immediately following the designation indicates the year oforiginal adoption or,in the case of revision,the year of last revision.A number in parentheses indicates the year of last reapproval.Asuperscript epsilon()indicates an editorial change since the last revision or reapproval.1.Scope1.1 This guide addresses infrastructure and practices for thelife-cycle management of supplier,contractor or subcontractor-held customer-owned property in the possession of a supplier,contractor or subcontractor.This includes the infrastructureand processes and subprocesses in the efforts of acquisition,use,and disposition.1.2 This guide covers property that is owned by a customeror a buyer(referred to as customer-owned property)that iseither directly furnished by a buyer,customer,or acquired by asupplier on behalf of a customer where title to the propertyultimately vests with the customer while in the possession of asupplier,contractor or subcontractor.1.3 This standard does not purport to address all of thesafety concerns,if any,associated with its use.It is theresponsibility of the user of this standard to establish appro-priate safety and health practices and determine the applica-bility of regulatory limitations prior to use.2.Referenced Documents2.1 ASTM Standards:2E2135 Terminology for Property and Asset ManagementE2279 Practice for Establishing the Guiding Principles ofProperty Asset ManagementE2452 Practice for Equipment Management Process Matu-rity(EMPM)ModelE2936 Guide for Contractor Self Assessment for U.S.Gov-ernment Property Management Systems2.2 IAASB Standard:33402 International Standard on Assurance Engagements(ISAE)2.3 PCAOB Standard:4Auditing Standard No.2 An Audit of Internal Control OverFinancial Reporting Performed in Conjunction With anAudit of Financial Statements2.4 Federal Standards:GAO-12-331G Government Auditing Standards5U.S.OMB Circular A-123 Managements Responsibility forInternal Control618 U.S.C.641 Public Money,Property or Records73.Terminology3.1 Definitions:For definitions related to property and assetmanagement,refer to Terminology E2135.3.1.1 acquired property,nproperty under the possessionor control of an entity that is not deemed“furnished property”and was acquired for business operation purposes.3.1.2 contract,nagreement creating obligations enforce-able by law.http:/www.law.cornell.edu/wex/contract3.1.3 contractor,nindependent entity that agrees to fur-nish a certain number or quantity of goods,material,equipment,personnel,or services that meet or exceed statedrequirements or specifications at a mutually agreed upon priceand within a specified timeframe.http:/ customer,nforcustomerfurnishedpropertyarrangements,the customer is generally considered the entityor decision maker that has issued a contract or subcontract.3.1.4.1 DiscussionThe customer may be the issuer of theoriginal contract or may be a prime contractor to a subcontrac-tor.Synonyms may include:buyer,purchaser,contractingofficer and client.Customers have authority to issue and makedeterminations,commitments and administer a contract or1This guide is under the jurisdiction of ASTM Committee E53 on AssetManagement and is the direct responsibility of Subcommittee E53.20 on UnitedStates Government Property Management.Current edition approved May 15,2015.Published June 2015.DOI:10.1520/E3015-152For referenced ASTM standards,visit the ASTM website,www.astm.org,orcontact ASTM Customer Service at serviceastm.org.For Annual Book of ASTMStandards volume information,refer to the standards Document Summary page onthe ASTM website.3Available from International Federation of Accountants(IFAC),529 5thAvenue,New York,NY 10017,http:/www.ifac.org.4Available from Public Company Accounting Oversight Board(PCAOB),1666K St.,NW,Washington,DC 20006-2803,http:/pcaobus.org.5Available from U.S.Government Accountability Office,441 G St.,NW,Washington,DC 20548,http:/www.gao.gov.6Available from U.S.Office of Management and Budget,725 17th Street,NW,Washington,DC 20503,http:/www.whitehouse.gov/omb/circulars.7Available from U.S.Government Printing Office,732 N.Capitol St.,NW,Washington,DC 20401-0001,http:/www.gpo.gov.Copyright ASTM International,100 Barr Harbor Drive,PO Box C700,West Conshohocken,PA 19428-2959.United States1 subcontractor and are limited to those individuals who havedelegated authority by the assets owner.Lessors are notcustomers.Not all employees of an entity are customers as theydo not have delegated authority to make determinations andcommitments on behalf of the entity,for example,auditors whoare working in an auditor capacity that require independence.3.1.5 customer-owned propertyproperty owned by a cus-tomer.3.1.5.1 DiscussionIf an entity receives a government con-tract and is required,by contract,to be furnished property tocomplet