Class Code: 8500

Per NCCI's Scopes Code Description:

Code 8500 is applied to dealers when the principal type of merchandise sold is nonferrous scrap metal. Refer to Code 8265 for dealers when the principal type of merchandise sold is ferrous scrap metal. Ferrous metal includes scrap iron or steel or any metal alloy that is primarily composed of iron or steel whether it is carbon steel or an alloy of steel including stainless steel.

Some dealers collect the non-ferrous scrap metal from mills, foundries, refineries or fabricators while others buy the scrap in graded condition from independent collectors. Upgraded scrap copper, lead, brass, bronze, tin, babbitt, etc., is sorted and stored by type and may be resold as is or sheared and then baled or bricked in presses for shipping purposes. Additionally, some soft metal scrap dealers will reduce their product in furnaces and pour molten metal into pigs or ingot molds prior to shipping.

Refer to Code 8001 for general underwriting guidelines regarding stores, dealers, and recycling operations.

State Addendum
Massachusetts  Code 8500 is applied to dealers when the principal type of merchandise sold is nonferrous scrap metal. Refer to Code 8265 for dealers when the principal type of merchandise sold is ferrous scrap metal.

Refer to Code 8001 for approved interpretations applicable to stores and dealers.

Rate per $100. of Renumeration: $ 4.74

Construction Exemption Required: No