Pay heed, auctions, consignors and dealers: The National Auto Auction Association has an amended arbitration policy that will become effective Feb. 1 and covers a few handfuls of areas that could impact your business.

The association has also made changes to its structural damage policy and has a new flood, puddle or stream policy. Both of those are also effective Feb. 1.

In this summary of changes, NAAA also includes two notes on “Open Recall Awareness” and “Generic Condition Report ‘Is vs. Is Not.’”

NAAA will conduct training on damage analysis and arbitration this year on the following dates:

• March 22-23 at Manheim Riverside
• May 10-11 at Manheim Toronto
• June 21-22 at Manheim Dallas
• Aug. 23-24 at Manheim Pennsylvania
• Oct. 18-19 at Manheim Central Florida

More information on the policy’s changes can be found here. The full policy can be found on NAAA’s website.

The video above provides a summary of the changes, as well.