FastPay

ScrapEX
FastPay

Secure and Flexible Payments Terms for Scrap Trading
ScrapEX FastPay – Part of Your Trading Co-Pilot. Get payments faster or pay later. Secure your Cash Flow

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Why Use FastPay

Accelerated Cash Flow

Scrap suppliers often face cash flow pressure due to shipping times, documentation delays, or buyer credit terms. With FastPay, you can unlock payments early and keep your operations running smoothly.
Tailored Flexibility

Whether you prefer payment on loading, 5 days before arrival, or through an accredited letter of credit, FastPay adapts to the needs of both supplier and consumer.
Risk Mitigation

Every payment is backed by verifiable trade documents (B/L, invoices, certificates, etc.), reducing the risk of disputes or defaults.
Global Standards

FastPay supports internationally recognized payment methods like L/C, D/P, and TT, ensuring compliance and security in cross-border trades.

How it works

Account

Register an account with ScrapEX
Get Verified

Submit all required information and documents to pass the ScrapEX KYB procedure and become ScrapEX verified business.
Apply for FastPay

Apply for the FastPay service to get available funding to use
Use FastPay

Use FastPay to secure your cash flow by getting payments faster or paying later

PriceFixer Demo

Live Price Fixing & GTC Order Placement

https://youtu.be/JhoUZYckdXE; How to fix price for your shipment at the current LME level; 1:27; Editor's note: With just a few simple steps, the price for your shipment is fixed. 1. Log in to your ScrapEX account. 2. Open your contract. 3. Click "Create group hedge". 4. Choose the Shipments (containers) from 1 to All and click continue. 5. Request a quote. 6. Accept the quote. The price for your shipment (container) is fixed. https://youtu.be/E-jCdjEpQpw; How to place a GTC order to LME for your shipment (container); 1:35; Editor's note: With just a few simple steps, your order is placed on LME. 1. Log in to your ScrapEX account. 2. Open your contract. 3. Click "Create group hedge". 4. Choose the Shipments (containers) from 1 to All and click continue. 5. Choose tab orders and choose Take Profit order. 6. Specify the LME level ($) you want to place the order for and click "Place Order". When the order is placed on LME, the order status will change to "At Work". You will get a notification in the notification center and by email. https://youtu.be/D2aXkLx65Ok; How to place an OLME order to LME for your shipment (container); 1:30; Editor's note: With just a few simple steps, your order is placed on LME. 1. Log in to your ScrapEX account. 2. Open your contract. 3. Click "Create group hedge". 4. Choose the Shipments (containers) from 1 to All and click continue. 5. Choose tab orders and choose OLME order. 6. Specify the date you want to place the order for and click "Place Order". When the order is placed on LME, the order status will change to "At Work". You will get a notification in the notification center and by email. https://youtu.be/GMrT9ZfFAQU; How to withdraw your GTC or an Official LME order from LME; 1:30; Editor's note: With just a few simple steps, your order is placed on LME. 1. Log in to your ScrapEX account. 2. Open your contract. 3. Click on the order you want to withdraw. 4. Click "Reject Order" and then confirm it. When the order is withdrawn from LME, the order status will change to "Order Canceled" or "No hedge". You will get a notification in the notification center and by email. Now you can place another order or fix the price for your Shipment at the current LME level.

Want to take control of your price fixing process?

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