Shelf-Life Item Law and Legal Definition

According to 41 CFR 102-36.40 [Title 41 Public Contracts and Property Management; Subtitle C Federal Property Management Regulations System; Chapter 102 Federal Management Regulation System; Subchapter B Personal Property; Part 102-36 Disposition of Excess Personal Property; Subpart A General Provisions], shelf-life item is any item that deteriorates over time or has unstable characteristics such that a storage period must be assigned to assure the item is issued within that period to provide satisfactory performance.