Heavy Melting Steel (HMS) 1 & 2

General Informationa. Cleanness. All grades shall be free of dirt, nonferrous metals, or foreign material of any kind, and excessive rust and corrosion. However, the terms free of dirt, nonferrous metals, or foreign material of any kind are not intended to preclude the accidental inclusion of negligible amounts where it can be shown that this amount is unavoidable in the customary preparation and handling of the particular grade involved. b. Off-grade material. The inclusion in a shipment of a particular grade of iron and steel scrap of a negligible amount of metallic material which exceeds to a minor extent the applicable size limitations, or which fails to a minor extent to meet the applicable requirements as to quality or kind of material, shall not change the classification of the shipment, provided it can be shown that the inclusion of such off-grade material is unavoidable in the customary preparation and handling of the grade involved. c. Residual alloys.Wherever the term free of alloys is used in the classifications given herein, it shall mean that any alloys contained in the steel are residual and have not been added for the purpose of making an alloy steel. Steel scraps shall be considered free of alloys when the residual alloying elements do not exceed the following percentages - Nickel .45% - Molybdenum .10% -Chromium .20% - Manganese 1.65%The combined residuals other than manganese shall not exceed a total of 0.60 percent. d. Deviations. Any deviations from the general classifications of iron and steel scrap may be consummated by mutual agreement between buyer and seller.200 No. 1 heavy melting steel.Wrought iron and or steel scrap ? inch and over in thickness. Individual pieces not over 60 x 24 inches (charging box size) prepared in a manner to insure compact charging.201 No. 1 heavy melting steel 3 feet x 18 inches.Wrought iron and/or steel scrap ? inch and over in thickness. Individual pieces not over 36 x 18 inches (charging box size) prepared in a manner to insure compact charging.202 No. 1 heavy melting steel 5 feet x 18 inches.Wrought iron and/or steel scrap ? inch and over in thickness. Individual pieces not over 60 x 18 inches (charging box size) prepared in a manner to insure compact charging.203 No. 2 heavy melting steel.Wrought iron and steel scrap, black and galvanized, 1/8 inch and over in thickness, charging box size to include material not suitable as No. 1 heavy melting steel. Prepared in a manner to insure compact charging.204 No. 2 heavy melting steel.Wrought iron and steel scrap, black and galvanized, maximum size 36 x 18 inches. May include all automobile scrap properly prepared.205 No. 2 heavy melting steel 3 feet x 18 inches.Wrought iron and steel scrap, black and galvanized, maximum size 36 x 18 inches. May include automobile scrap, properly prepared; however, to be free of sheet iron or thin gauged material.206 No. 2 heavy melting steel 5 feet x 18 inches.Wrought iron and steel scrap, black and galvanized, maximum size 60 x 18 inches. May include automobile scrap, properly prepared; however, to be free of sheet iron or thin gauged materialStandards Certificate - ISRI CODE 200-206Price - Price will be dependant upon several variables and will be quoted against a vaild LOI. Price changes with the market and will reflect market conditions less discount.PRELIMINARY PROCEDURES1. BUYER/MANDATE SENDS LOI. 2. SELLER ISSUES FULL CORPORATE OFFER (FCO). 4. BUYER SIGNS FCO (ON EACH PAGE) AND RETURNS TO SELLER WITH BANK ENDORSEMENT. 5. SELLER ISSUES CONTRACT. 6. BUYER SIGNS AND RETURNS CONTRACT. 7. BUYER ISSUES NON-OPERATIVE FINANCIAL INSTRUMENT 8. SELLER ISSUE POP, BANK TO BANK 9. BUYER ACTIVATES FINANCIAL INSTRUMENT 10.SELLER ISSUES 2% PERFORMANCE BOND 11.SELLER PLACES ORDER SPECIAL TERMS 1. THE BUYER COMMITS TO PROVIDE THE BANK ENDORSEMENT EITHER ISSUED OR CONFIRMED BY A TOP PRIME BANK. 2. SELLER DOES NOT PROVIDE UP FRONT SAMPLES OR FACTORY VISITS SINCE ALL RELEVANT DOCUMENTS WILL BE PROVIDED WITH EACH SHIPMENT. 3. THE SELLER DOES NOT PROVIDE ANY PAST PERFORMANCE DOCUMENTS SINCE THIS IS CONFIDENTIAL BETWEEN THE PARTIES INVOLVED AND HAS NO VALUE FOR HIS CAPACITY TO DELIVER THE CONTRACTED QUANTITY IN THE FUTURE. 4. THE CONTRACT SIGNED BY BOTH PARTIES ELECTRONICALLY IS LEGALLY BINDING ACCORDING TO ICC RULES. HARDCOPIES ARE NOT PART OF THE PROCEDURES. IF THE BUYER REQUESTS HARDCOPIES THEN HE HAS TO PRINT THE HARDCOPIES SIGN AND SEAL EACH PAGE AND SEND THE COPIES PER COURIER TO THE SELLER FOR HIS SIGNATURE. THE SELLER WILL THEN RETURN THE 2-3 HARDCOPIES TO THE BUYER BY COURIER. 5. IT IS UNDERSTOOD THAT ONLY THE CONTRACT IN ENGLISH LANGUAGE AS ISSUED BY THE SELLER IS VALID. 6. THE BANK ENDORSEMENT AND THE FINANCIAL INSTRUMENTS HAVE TO BE CONFIRMED BY THE CONFIRMING BANK (BCL) IN CASE THE BUYERS BANK IS NOT A TOP 25 BANKNotes - HMS 1 and 2 (ISRI CODE 200-206 )

HMS 1 and 2 (includes P&B)

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