The IDEA Board of Directors has approved the endorsement of ERAI’s published INDUSTRY TERMS & DEFINITIONS for the following terms: New Factory Sealed, Unused, Used, Refurbished, Bulk.

Specifically approved, without changes, are the definitions that ERAI documented in bold (see document).

What Does This Mean?

Because these terms and definitions are now recognized and accepted by ERAI and the IDEA, they are more likely to be accepted as a basis in rulings in a court of law under UCC interpretation. IDEA members are encouraged to adopt these said terms and definitions in conducting their businesses.