South Carolina Agricultural Products Dealer Bond Overview
An Agricultural Products Dealer Surety Bond is a license and permit surety bond required by the South Carolina Department of Agriculture. This bond is needed to receive a license for buying and reselling agricultural products such as vegetables, livestock, etc.
The Agricultural Bond guarantees that the bonded parties will adhere to lawful trade practices, conduct business honestly, account for all proceeds from the sale of products, and make all due payments to the producers they have obtained products from. Specifically the bond guarantees compliance with the Federal Packers and Stockyards Act as well as with local statutes and regulations governing agricultural business in each state. When an Agricultural Surety Bond is in place, if and agency, dealer or producer does not comply with the rules, producers and buyers have the ability to file a claim against the Surety Bond.
Agricultural & Citrus Bond Cost
As with many bonds, the cost of your Agricultural & Citrus Bond will only cost you a small percentage of the full penal amount of the bond. The full penal amount of the bond varies. In South Carolina the penal amount of an Agricultural Bond varies but is usually $25,000 or the amount of business you estimate in a month.
Need an Agricultural Products Dealer Bond? Contact US Now!