The CC>CC maintains a list of chip grade and condition descriptions that are used by all club members and many non-members. The list is intended to be used as a guide so that two people involved in a trade have the same understanding as to the condition of the chips in question.
For example, the condition "NEW" means "Never used in games; square and round edge chips will be as from the manufacturer with absolutely no wear, no dings or nicks; no scratches on surface of chip or inlay."
Before the existence of the guide, to one person, "New" might have included almost new chips with very little signs of wear. However, since the inception of this guide, all chippers understand that a chip in that condition would fall into the "Slightly Used" category.
You should always use the conditions outlined in the guide and apply them appropriately to your chips. This will save much headache in trade/sale transactions by keeping one or both parties from being dissatisfied with the chips in question.