ASTM E3015-15(R2020) pdf free download

ASTM E3015-15(R2020) pdf free download.Standard Guide for Management of Customer-Owned Property Assets in Possession of Supplier, Contractor or Subcontractor
1. Scope
1.1 This guide addresses infrastructure and practices for the life-cycle management ofsupplier, contractor or subcontractor- held customer-owned property in the possession of a supplier, contractor or subcontractor. This includes the infrastructure and processes and subprocesses in the efforts of acquisition, use, and disposition. 1.2 This guide covers property that is owned by a customer or a buyer (referred to as customer-owned property) that is either directly furnished by a buyer, customer, or acquired by a supplier on behalf of a customer where title to the property ultimately vests with the customer while in the possession of a supplier, contractor or subcontractor. 1.3 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appro- priate safety, health, and environmental practices and deter- mine the applicability ofregulatory limitations prior to use. 1.4 This international standard was developed in accor- dance with internationally recognized principles on standard- ization established in the Decision on Principles for the Development of International Standards, Guides and Recom- mendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.
3.1.5 customer-owned property—property owned by a cus- tomer. 3.1.5.1 Discussion—If an entity receives a government con- tract and is required, by contract, to be furnished property to complete the work—this is defined as customer-owned or customer furnished. This may include property that is subse- quently furnished to suppliers and subcontractors. Those who are furnished this property generally refer to this property as customer furnished property or customer-owned property. 3.1.6 entity owned—property owned by an entity. 3.1.6.1 Discussion—If entity (ZXY Corporation) is in the business of selling commercial products and needs to provide owned property to a supplier to do work, this is entity (XYZ Corporation) owned property from the perspective of the owner, but is customer-owned property from the perspective of the supplier. 3.1.7 furnished property, n—property actually furnished to but not paid for by a supplier, contractor or subcontractor within the contractual arrangement. This guide does not include controls specifically for items sent in for repair, modification, or upgrade under service agreements. 3.1.8 internal controls, n—organization’s business system of internal control designed to provide reasonable assurance of achieving: (1) effective and efficient operations (E&EO), (2) reliable reporting (RR), including financial and performance, and (3) compliance with applicable laws and regulations (CLR). 3.1.10.1 Discussion—The prime contractor is frequently referred to as the “buyer” or “customer” by the subcontractor. From the perspective ofa subcontractor, the prime contractor is the entity with whom the subcontractor is directly engaged in a subcontract. There are numerous variations to this relationship, for example, a prime contractor may, in turn, be a subcontractor to another entity, which would then be that subcontractor’s prime contractor. In another context, the prime contractor may refer to the contractor that holds the direct contract with the ultimate customer. 3.1.11 reasonable assurance, n—management’s assessment or opinion regarding the effectiveness of internal controls relating to effective and efficient operations, reliable reporting, and compliance to laws and regulations. 3.1.11.1 Discussion—Reasonable assurance includes the understanding there is a remote likelihood that material mis- statements or occurrences will not be prevented or detected on a timely basis. Although not absolute assurance, reasonable assurance is, nevertheless, a high level of assurance. 3.1.12 should—a presumptively mandatory requirement: practitioners must comply with a presumptively mandatory requirement in all cases where such a requirement is relevant, except in rare circumstances. In such rare circumstances, practitioners should perform alternative practices to achieve the intent of that requirement. Documentation justifying the departure should be maintained. Cost-benefit and materiality concepts apply.