FREDERICK, Md. -

National Auto Auction Association chief executive officer Frank Hackett announced that changes to the arbitration and structural damage policies have been approved.

Hackett indicated these changes will take effect on Sept. 1.

NAAA recounted that its auction standards committee received unanimous approval last Tuesday from the executive committee to move ahead with the revisions.

“This will be the first time these policies have been updated since Jan. 1, 2011,” Hackett said. “New arbitration and structural damage posters will be shipped to all member auctions in August.”

The new policy can be downloaded here.

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