Understanding MCC 5983: Fuel – Fuel Oil, Wood, Coal, Liquefied Petroleum
Merchant Category Code (MCC) 5983 classifies businesses primarily engaged in selling fuels. This category includes a diverse array of energy commodities, such as fuel oil, wood, coal, and liquefied petroleum. These classifications are crucial for businesses and financial institutions to manage transaction processes properly. MCC codes like these help streamline payment processing and ensure compliance with industry standards.
What Businesses Are Classified Under MCC 5983?
MCC 5983 encompasses companies that are essential in the fuel provision industry.
Examples include:
- Fuel Oil Suppliers: Selling various grades of oil for heating or engine fuel.
- Wood Fuel Merchants: Providing wood as a source of biomass fuel.
- Coal Dealers: Supplying coal for both residential and commercial uses.
- Liquefied Petroleum Gas (LPG) Distributors: Delivering gas in liquefied form for energy consumption.
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