In Europe for an EASA Form 1 the definitions are as follows
Block 12 The following words in quotation marks, with their definitions, indicate the status of the item being released.
One or a combination of these words shall be stated in this block:
1. OVERHAULED
The restoration of a used item by inspection, test and replacement in conformity with an approved standard (*) to
extend the operational life.
2. INSPECTED/TESTED
The examination of an item to establish conformity with an approved standard (*).
3. MODIFIED
The alteration of an item in conformity with an approved standard (*).
4. REPAIRED
The restoration of an item to a serviceable condition in conformity with an approved standard (*).
5. RETREADED
The restoration of a used tyre in conformity with an approved standard (*).
6. REASSEMBLED
The reassembly of an item in conformity with an approved standard (*).
Example: A propeller after transportation.
NOTE: This provision shall only be used in respect of items which were originally fully assembled by the manufacturer in accordance
with manufacturing requirements such as, but not limited to, Part-21.
(*) Approved Standard means a manufacturing/design/maintenance/quality standard approved by the competent
authority.
The above statements shall be supported by reference in Block 13 to the approved data/manual/specification used
during maintenance.
This is for Block 12 of the form, I haven't managed to find the same for the FAA Form 8130-3 though.
This was from page 63 of
http://eur-lex.europa.eu/LexUriServ/...en00010165.pdf which is EC Reg 2042/2003.
I'd contact the supplier and ask what you're getting as my interpretation of their condition would be that they'd need overhauling or inspecting/testing to establish their servicability before use.