FERROUS PRODUCTS - DESCRIPTION

It is the most widespread kind of scrap metal. It is also used almost everywhere, that's why you will often come across that kind of scrap metal. The most important thing is that it commonly comes in very large quantities. There are many grades of ferrous scrap metal and all of them are simple enough to identify. Because almost all of them are magnetic (use your pocket magnet), in compare with non-ferrous scrap metal varieties that mostly are non-magnetic.

Ferrous metals are mostly used in production of massive and durable but technologically simple products which are often used as a base for majority of metal products.
 

FERROUS PRODUCTS - Terms & Conditions

  1. 250 MT minimum order
  2. 250 MT or lower quantity invoice – payment strictly by TT or RTGS as per following directions – NO LC / DA / DP / CAD acceptable

    1. 30% Advance TT or RTGS as applicable after receipt of Proforma Invoice within 24 ~ 48 hours
    2. 70% Balance Payment by TT or RTGS as applicable against FAX or Scan Copy of Draft Shipped B/L in the name of buyer. Will provide soft copy of Commercial INVOICE + Packing List + Certificate of Origin + No WAR Material Certificate + OBL + Weight Slips + Loading Photos. Hard Copies will be sent by courier to Buyer’s nominated address on receipt of balance payment. Shipment from some location's have special payment conditions.
  3. Price Offered only valid for contract duration or spot contract. Cannot lock price for yearly contracts. Supplier will renegotiate price every 500 MT.
  4. Payment by LC only acceptable for order more than 250 MT – LC to be established strictly as per format provided by supplier. Check Payment Section for complete details.
  5. Average load in single 20 FT FCL Ex USA is 18.5 MT & Ex Africa is 25 MT. Shipments from USA have weight limit due to 38000 LBS road weight restrictions.
  6. For LC terms please see Payment Section for complete details.
  7. Yard Visit is not allowed for orders less than 1000 MT
  8. CAD / DA / DP not acceptable for buyers from Indian subcontinent – India / Pakistan / Bangladesh due to frequent payment problems in ALL Banks in above locations.
  9. Buyers from Indian Subcontinent – India / Pakistan / Bangladesh – ONLY SBLC or BG accepted – NO LC acceptable. Local BG acceptable provided from rated bank.
  10. Supplier cannot include original pre – inspection certificate as payment document in LC as original PSIC is sent directly to consignee. Only Copy of PSIC will be provided to bank as part of payment documents same to be mentioned in field 46A in LC.
  11. Supplier ship cargo as per INCOTERMS – CNF / CFR / FOB only.
  12. Supplier cannot paste / attaché Packing List and or other payment documents inside container.
  13. Standard weight variation is 2%. MS % in Cast iron shipments is 5% ~ 10% Ex West Africa – no claims will be accepted or entertained if MS % is within acceptable limit of 5% ~ 10%. Cast Iron shipped from USA has less than 2% attachment & South America is pure cast iron scrap with no higher than 1% MS attachment.
  14. HMS 1/2 ratio is 80/20 standard until & unless otherwise stated.
  15. Weight dispute will be resolved by credit only on future orders for weight loss which is verified no cash refunds - no claim for custom duty or other sundries will be accepted or entertained. Good Buyers know & accept this as expense of doing business and refrain from being embarrassed by making such demands.