What should I look for in a shredding company’s secure bin inventory?

Begin with a full bin register. Each bin should have an identifier, a size, a location and a customer. Walk the yard and compare the register against what you see. Mismatches matter: a bin on the list but not in the yard, or in the yard but not on any list, points to weak record keeping.

Inspect condition. Look at locks, hinges, slots and wheels. A damaged lock defeats the purpose of a secure bin, and customers who trust you with sensitive paper expect it to hold. Ask how often locks are replaced and how keys are controlled, and who holds spares.

Work out how bins are used. Some sit in offices full each week and others are rarely emptied. Ask how many are in rotation and how many are idle, and whether idle ones are still billed. Bins are equipment, so find out whether any are leased or financed and whether a lender has a claim on them. Last, see how the register ties to the books. Bin purchases, repairs and replacements should show in the fixed-asset records. If your purchase includes the bins, list them in the agreement by count and condition.

Key takeaways

• Reconcile the bin register against the yard and against customer placements.
• Test locks and key control; a weak lock undermines the whole service.
• Check for idle, leased or financed bins before you count them as assets.