Packers . Packers and Stockyards Act, was notified by certified mail received on January 23, 1998, as set forth in paragraph II in the Complaint, that he was required to maintain a surety bond or its equivalent in the amount of$10,000 to secure the performance of his livestock obligations under the Packers and Stockyards … Agricultural bonds have also been known as agricultural packers and stockyards bonds. Principal Name, Address, and Phone Number 3. Stockyards, commission firms, livestock auctions, order buyers, dealers, meat packers, meat brokers, meat wholesalers, and distributors, and live poultry dealers are also included. How does the bond work? Official Livestock Packers and Stockyards Bonds nationwide. Learn more about bond requirements and costs. Take 2 minutes and get your free, no-obligation quote today! It guarantees that agricultural businesses will abide by the rules set forth in the Packers and Stockyards Act, and will account properly for sales of agricultural products and livestock. The P&S Act requires that every market agency, packer and dealer must execute and maintain a bond applicable to the activity or activities in which the entity engages. bonds must be issued by an insurance carrier admitted by the Department of Insurance. bonds must be issued by an insurance carrier admitted by the Department of Insurance. Packers . Comments are invited on the proposed establishment of a new regulation under the Packers and Stockyards Act, which protects fair trade, financial integrity, and competitive marketing for livestock, meat, and poultry. BOND U.S. DEPARTMENT OF AGRICULTURE GRAIN INSPECTION, PACKERS AND REQUIRED OF LIVESTOCK MARKET AGENCIES, DEALERS, AND STOCKYARDS ADMINISTRATION PACKERS PACKERS AND STOCKYARDS PROGRAMS Subject to the Packers And Stockyards Act, 1921, as Amended and Supplemented 1. The Office of State Veterinarian administers and enforces the licensure of Stockyards, Buying Stations and Livestock Dealers and Approved Horse Sales: Stockyards, Buying Stations and Approved Horse Sales must renew licensure annually … Operating without an adequate bond or bond equivalent is a violation of the P&S Act. Livestock Market Agencies, Dealers and Packers are required by the United States Department of Agriculture (USDA) Grain Inspection, Packers and Stockyards Administration's Packard and Stockyards Program to file a Livestock Market Agencies, Dealers and Packers Bond under the Packers and Stockyards Act of 1921 as amended. The insurance company issuing any surety bond, such as the Packers and Stockyards (Clause 3) bond, will also be referred to as the "surety company" or the "bond company". Bond Number _____ 2. These include: • Assuring fair competition and trade practices • Safeguarding farmers and ranchers • Protecting consumers • Protecting livestock, meat, and poultry industry members from unfair, deceptive, unjustly discriminatory, and monopolistic practices The Grain Inspection, Packers and Stockyards Livestock Packers and Stockyards Bond. (l) This bond may be terminated by either party hereto delivering written notice of termination to the other party and the Packers and Stockyards Program at least thirty (30) days pr ior to the effective date of such termination. Federal Requirement. and Stockyards Act (P&S Act). Packers and Stockyards Act, was notified by certified mail received on January 23, 1998, as set forth in paragraph II in the Complaint, that he was required to maintain a surety bond or its equivalent in the amount of$10,000 to secure the performance of his livestock obligations under the Packers and Stockyards Act. Go Direct for a simple, accurate and affordable bonding experience. Entities engaged in buying and selling of livestock across the U.S. need a livestock dealer bond. What Is a Livestock Dealer Bond? These include: • Assuring fair competition and trade practices • Safeguarding farmers and ranchers • Protecting consumers • Protecting livestock, meat, and poultry industry members from unfair, deceptive, unjustly discriminatory, and monopolistic practices The Grain Inspection, Packers and Stockyards It’s required before they can obtain a state livestock dealer license and operate in legal compliance with the Packers and Stockyards Act of 1921.. Comments are invited on the proposed establishment of a new regulation under the Packers and Stockyards Act, which protects fair trade, financial integrity, and competitive marketing for livestock, meat, and poultry. How does the bond work? An Alcohol Beverage Bond (also known as a Liquor Tax Bond) ensures that businesses licensed to sell, manufacture, import alcohol comply with regulations and pay taxes as required. Livestock Market Agencies, Dealers and Packers are required by the United States Department of Agriculture (USDA) Grain Inspection, Packers and Stockyards Administration's Packard and Stockyards Program to file a Livestock Market Agencies, Dealers and Packers Bond under the Packers and Stockyards Act of 1921 as amended.