The Used Truck Association (UTA) has released a set of guidelines for industry-standard trade terms and conditions used to establish the condition of a used truck, as agreed to by both seller and buyer.
UTA Trade Terms & Conditions are meant to reduce confusion in the marketplace, according to UTA board member Marty Crawford of Waters Truck & Tractor, Columbus MS.
For example, he cited the trade term requirement of “50% rubber.” A seller may interpret that to mean the total remaining tread on all tires must be at least 50% of the original amount. In some extreme cases, said Crawford, sellers have taken “50% rubber” to mean half the number of tires, and turned in trucks with tires missing. A buyer, on the other hand, usually takes the term to mean each of the truck's tires must have at least 50% of its tread depth left.
With the UTA Trade Terms & Conditions, the guidelines do away with percentages and spell out a minimum tread depth and condition. The publication covers engines (mechanical and electronic), drivetrains, brakes, tires, frame, cabs, sleepers, and bodies. It also takes into consideration de-identification, safety inspections, and fleet trades.
The guidelines also lay out a step-by-step approach for how the used-truck appraisal process should be handled, including the necessary paperwork and documents. For a free copy of the UTA Trade Terms & Conditions, access www.uta.org.