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How are the plastics contracts delivered?

April 26, 2017contracts delivered plastics

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How are the plastics contracts delivered?

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Contracts are deliverable by the transfer of Plastics Warrants (PWs) through clearing using the LMEs SWORD system. Each PW is a bearer document of title representing a specified parcel of physical product in 25kg or 55lbs bags at facilities operated by LME approved warehouses at LME approved delivery points. Once the warehouse has satisfactorily checked the documentation and completed its visual inspection of bagged, palletised (shrink/stretch wrapped and covered with a plastic hood) product, it will instruct its London Agent to create the relevant PW(s) using the LMEs SWORD system. Refer to the full contract specifications available for more information.