What Is The NAAA Arbitration Policy 2024?
Key Changes in the NAAA Arbitration Policy 2024 The NAAA Arbitration Policy 2024 has introduced several key changes to improve the fairness and efficiency of auto auctions. Some of the major changes include: Extended Time for Arbitration Claims : The time allowed for filing arbitration claims has been extended from 7 to 14 days. This gives buyers more time to identify and report issues. Simplified Dispute Resolution Process : The new policy has simplified the dispute resolution process, making it easier for buyers and sellers to resolve conflicts quickly. Increased Transparency : Sellers are now required to disclose more detailed information about the vehicle’s condition, including accident history and repairs. Statistics on Arbitration Claims Here are some important statistics related to arbitration claims under the NAAA policy: Increase in Claims : In 2023, there was a 15% increase in arbitration claims compared to 2022. This increase is expected to continue with the extended time f...