Using the ISRI Scrap Specifications Circular in Your Business Transactions
Today’s Industry Voices was written by ISRI Chief Economist and Director of Commodities Joe Pickard.
On Wednesday, June 23, ISRI will host the webinar Where, Why and How ISRI Scrap Specifications Circular Plays A Crucial Role in Your Business Transactions. Attendees will learn why the Circular is such an important tool, how it can help better define their business deals, and how ISRI advocates the Circular as a guide in international trade.
For decades, the ISRI Scrap Specifications Circular has been an essential tool for how recyclers conduct their business. It provides guidelines for buying and selling various recycled commodities, including ferrous, nonferrous, paper, plastics, electronics, rubber, and glass.
The Circular’s standard specifications can help assist members in the buying and selling of their materials and products. Derived from many sectors of the metals, paper stock, plastics, glass, and electronics industries, these specifications represent the quality or composition of the materials bought and sold in the industry. Internationally accepted, the specifications are used throughout the world to trade the various commodities.
ISRI’s specifications are always subject to negotiation between buyer and seller. Any deviation from the standard specifications, however, should be mutually agreed to and so stipulated in writing by the parties to the transactions. ISRI maintains an Arbitration Service to help members settle differences among themselves or between one of them and a nonmember.
Additionally, the “Guidelines for Metals Transactions” section of the Circular contains supplementary information that will aid members in completing their business transactions. ISRI recommends that these guidelines be reviewed and that members use them in conjunction with the actual specifications in the conduct of their business.
The ISRI Scrap Specifications Circular is posted as a PDF least once per year on ISRI’s website. For the most up-to-date version, visit isri.org/specs.
The webinar, which takes place from 2:00 p.m. – 3:00 p.m. EDT, is free to ISRI members and $195 for nonmembers. Registration information can be found here.