Interarms was an importer based in Virginia if memory serves me correct. The gun was made by Zastava a Yugoslavian company. These rifles are Mauser 98 in design and have a good track record for quality. Since the demise of Interarms the rifles have been imported by Charles Daly, Remington(model 798 and 799)and are currently imported by (I think)EAA. I used to buy them as barreled actions in the early 90's and put a B&C stock on them for resell(I was a dealer). All were of good manufacture and the ones I shot were good shooters. I think I still have one in 243. Oh yea they have a 2 position side safety similar to the Remington 700 or the Marlin XS/XL.
I have a .270 that my dad built on an Interarms Mark X action. It shoots like a champ with factory ammo. Its been a problem free gun for over 20 years. My dad bought the barreled action in about 1990 or so but the barreled action was built in 1969. He was also building me a 7mm-08 but he ended up with a faulty barrel from Douglas and had to re-chamber it for 7mm Mag. I didn't really have much use for it so my dad sold it to my cousin. The only problem I ever noticed with the 7mm Mag was that the action was a little sloppier than .270. The 7 Mag action was built quite a bit later than the .270 so I think the quality might have changed a little between the late 60's and late 80's. Other than that, both were solid actions.
My uncle had two custom guns built on the interarms mark x action, my cousins (given to him) 25-06 shoots really nice. Seem like a solid action but it seems like to gotta really man handle the action unlike a winchester or ruger mauser.
I bought a left hand raw action and put a 9.3x62 barrel on it, then stocked it with a synthetic Lone Wolf. Very accurate and never had any issues with function. Not the slickest action out of the box but a couple of nights with some lapping compound while watching the boob tube improved it considerably.