A new contract to sell the Department of Defense's usable, non-rolling surplus has been given to Liquidity Services Inc.

The award from Defense Logistics Agency's Disposition Services is for two years and has options for four one-year periods.

Under its terms, Liquidity Services will pay DLA about 4.35 percent of the Department of Defense's original acquisition value for all items -- that includes a half-percent upfront, and the remainder after Liquidity Services sells the item.

Surplus items covered include aerospace, audio/video, boats and marine vessels, communications, field gear, fitness and sporting equipment, heavy industrial equipment, machine tools, material handling equipment, medical and dental, test and measurement equipment, and technology.

"We are excited to build on our 14-year relationship with DLA and to continue this relationship to securely sell the majority of surplus assets generated by the DOD across the United States, Puerto Rico, the U.S. Virgin Islands and Guam," said Bill Angrick, chairman and chief executive officer of Liquidity Services.

"Our deep experience in processing and selling over 240 million surplus items for the DOD will enable us to continue to provide innovative solutions to our agency partner while enhancing value for these items by integrating our sales with the General Services Administration's official government sales portal which will add to our base of over 2.6 million buyers seeking surplus assets on our marketplace platform."

The agreement is for surplus military items in the United States and its possessions and territories, but could be extended to military surplus in other overseas locations.