FREDERICK, MD—The National Auto Auction Association took another step toward its vision of a universal arbitration policy for the remarketing industry by providing Spanish and French versions of the standardized guidelines for conducting arbitration procedures. Both translations of the document, along with the English text, are available online at www.naaa.com under the 'Standards' tab.

“National Arbitration Policy: In-Lane and Online” has been translated into Spanish and French to accommodate the growing diversity in the auction lanes and the organization’s North American membership, said NAAA Chief Executive Officer Frank Hackett.

“The goal of offering the policy in various languages is to encourage its use and build greater understanding among auctions, buyers and sellers — which ultimately translates into increased benefits for all in the auto auction industry,” Hackett explained. “Since its adoption in 2010, our standardized policy has proven extremely valuable in sustaining the trust and confidence of auction customers, as well as in strengthening the common bonds among auction members across the continent, so we want to ensure this tool is accessible to everyone. After all, the effectiveness of this policy truly depends upon its implementation by all NAAA members.”

Both foreign language versions include all the charts and diagrams as well as the text of the orginal English 15-page document.

Developed to establish a uniform principle of fair, consistent and ethical treatment for the entire industry, the policy furnishes clear, concise procedures for resolving disputes, so any claim can be settled quickly, cost-effectively, privately, and by a qualified, independent party outside the court system. It covers a variety of aspects and issues to create a user-friendly, consistent policy relevant to all auctions.

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NAAA Posted 4/21/2014