Arbitration
The process of resolving disputes between auction buyers and sellers, typically regarding undisclosed vehicle defects or condition report inaccuracies.
Definition
The process of resolving disputes between auction buyers and sellers, typically regarding undisclosed vehicle defects or condition report inaccuracies.
Related Terms
Condition Report (CR)
A detailed inspection report provided by the auction house documenting a vehicle's condition, including mechanical, structural, and cosmetic assessments.
Green Light
An auction designation indicating a vehicle has passed the auction's inspection and meets quality standards. Green light vehicles often come with limited arbitration guarantees.
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