When the transferor physically transfers an item to the transferee, it must be disposed of in FastBound.
Depending on your FFL Type, there may be different requirements on how much time you have before disposed items must be updated in FastBound.
For NFA transactions and in jurisdictions where there is a waiting period, FastBound strongly recommends adding items to a pending disposition as this prevents the firearm from being disposed to another contact.
Creating a pending disposition, attaching a contact, adding items, and then committing the disposition are the basic steps necessary to log items out of a bound book.
Note: Committing a disposition disposes the items from the FFL’s A&D record. Until a disposition is committed, items will still appear in the FFL’s inventory.
Disposing Items attached to a 4473
If the transferor is using FastBound for electronic 4473s, the process for disposing items attached to a 4473 is a bit different. Every 4473 in FastBound has an underlying disposition, so there is no need for an integration to create a new disposition, attach a contact, and add items to it. Instead, the process looks like this:
[FastBound] The transferor starts the 4473 and attaches one or more items to it
[FastBound] The transferee fills out Section B, signs, and certifies it
[FastBound] The transferor attaches a contact, runs a background check, and, assuming they received permission to transfer the items, completes the 4473. The underlying disposition is changed to Pending status, and is now visible in the Dispose section of FastBound.
[FastBound] The transferor loads the disposition, selects a disposition Type, and saves the disposition
[Integration] The integration software recalls the 4473's disposition
[Integration] The integration software commits the 4473's disposition
At this point, the items on the 4473 have been logged out of FastBound.