BUYERS OF SCRAP METAL
A family run business, trading in the Croydon area for over 60 years
Introduced back in 2013, the Scrap Metal Dealers Act was introduced as a means of regulating the scrap metal recycling industry and preventing the types of illegal activities that had dogged reputable scrap yards and scrap metal merchants for years. It replaced the previous legislation, which had the same name and was implemented in ‘64, which was outdated and no longer effectively dealing with the problem of metal theft. Our company pays careful attention, always adhering to these regulations, while also paying the best possible scrap metal prices to our Beckenham clients, and providing handy extras such as scrap metal collection.
The act requires operators in the scrap metal recycling industry – including any scrap yard or scrap metal merchant – to get licensed by their local authority. The license must be renewed every three years and can be denied if the applicant is found to be breaking the rules. Another requirement is that companies keep records of all scrap metal transactions, including the name and address of the seller, a description of the metal, and the date and amount paid. These records must be kept for three years and made available to the police if requested. This is why we insist that any Beckenham resident making use of our scrap yard bring identification, and two forms if they want to cash their cheque on site with our in-house cheque cashier. Not every scrap metal merchant has one, just as not every company provides scrap metal collection. We look to set ourselves apart from competitors in this respect, and by also paying the most competitive scrap metal prices on any given day.
Why can’t we simply pay in cash? Because it’s another prohibition set out by the act. Any above board scrap yard or scrap metal merchant will insist on paying by cheque, pre-paid card or electronic transfer. Beware scrap metal recycling companies offering to pay cash, as you may be implicated in the illegality of such a move. The reason for banning cash payments in Beckenham and the wider UK, is to simplify authorities tracking transactions and preventing money from being used for illegal activities.
Another key feature of the Scrap Metal Dealers Act 2013 was the empowering police with new powers to close down scrap yards and scrap metal merchants that are breaking the law. This includes the power to seize metal and equipment (e.g trucks used for scrap metal collection), as well as the ability to fine or imprison those found guilty of breaking the rules. It’s been a huge boon for legitimate, reputable scrap metal recycling companies like our own near Beckenham. With the cowboys going and the industry cleaned up, we get to shine!
In addition to regulating scrap metal dealers, the act also requires local authorities to keep a register of all licensed dealers in their area – and we can be found on all the official registries should you wish to investigate. Licenced dealers are also more likely to provide Beckenham residents with full value scrap metal prices. You’re less likely to get ripped off!