If you feel grooves, it needs to be machined. If you replace the pads but leave the grooved rotors, the pads will wear unevenly from the beginning. To optimize performance of your braking system, the brake pad should be mated to the metal surface as much as possible. These grooves take away from that process. The same is true with warped rotors.
DEFINITION of 'Qualified Institutional Buyer-QIB'. A corporate entity that falls within the accredited investor category, defined in SEC Rule 501 of Regulation D.
Definition of ACCREDITED INVESTOR. : an investor that qualifies under the Securities Act of 1933 and related Securities and Exchange Commission regulations as one having a minimum specified net worth or being a particular type of company (such as a bank or insurance company). ADVERTISEMENT. an investor that qualifies under the Securities Act of 1933 and related Securities and Exchange Commission regulations as one having a minimum specified net worth or being a particular type of company (such as a bank or insurance company). ADVERTISEMENT.