FAQ

We Buy Scrap Iron Worldwide

Frequently Asked Questions

Q: How long have you been in business?

A: This October we start our 24th year in the scrap metal industry.

Q: Do you pay in advance?

A: Sometimes. Each order and customer is unique. We do our best to meet your accounting-requirements.

Q: Do you issue Letters of Credit?

A: Yes. It depends on the customer, order size, location, frequency, and cost-structure (see the process below).

  • Minimum 500 MT order to open an LC.
  • Sometimes we open the LC directly to the Supplier.
  • In most cases the LC is open to our company. We provide a Consignment of Proceeds to the Supplier. Meaning once we exercise the LC and receive funds, automatically, out of our control, a specified dollar amount is wired directly to the Supplier. We provide you all LC details in advance for verification.

Q: What bank do you use for the Letters of Credit?

A: We exercise our LCs with Bank of America Trade Operations in Los Angeles.

Q: How often do you update prices?

A: Daily, weekly, and monthly. Global markets constantly change – we monitor them daily.

Q: How long does it take to set up an order?

A: We work fast. But it depends on location, loading schedules, sailing schedules, truck availability, and terms.

Q: When do we get paid for the scrap iron?

A: In most cases we pay the next business day (see the process below).

  • After loading send us both scale tickets, photos, packing list, and an invoice. Then we wire transfer funds.

Q: Are you affiliated with any government?

A: No. We are a privately held US corporation.

Q: Do you buy nonferrous metals or eScrap?

A: We can if you need us to. Let’s discuss that over the phone.

Q: Do you visit your customers?

A: Yes. We meet and verify every supplier and contractor, no matter where they are located.

Please call 1+305-780-4942 (WhatsApp = OK) to learn more.

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