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Packers and Stockyards Act Bond

Packers & Livestock Bonds, or Packers & Stockyard Bond Agencies and dealers must provide and maintain a surety bond as a measure of protection for livestock sellers against non-payment. The size of the bond is based on the volume of business, generally an average two days’ business with a minimum of $10,000 bond. Packers whose annual livestock purchases exceed $500,000 are also required to be bonded.

Packers & Stockyard Bond Form

(Custodial Trust) Accounts Agencies must maintain a separate bank account for custodial funds named a “Custodial Account for Shippers’ Proceeds”. The commission firm or auction market acts as a fiduciary depositor to the account, and the funds in the account are trust funds for the benefit of livestock sellers or consignors (“shippers”). Custodial accounts must be maintained in FDIC-insured banks to protect each seller the commission firm or auction market owes for livestock up to $100,000, in the event that the bank fails before the commission firm or auction market can issue payment. A common alternative is to provide a Packers & Stockyard Bond or Packers & Livestock Bond in lieu of a Custodial Account.

Packer and Poultry Trusts In the event of a failure to pay for livestock or poultry, packers and live poultry dealers are required to hold assets — inventories, proceeds, and proceeds receivable — in trust for the benefit of cash sellers and poultry growers. In lieu of a trust a Packers & Livestock Surety Bond or Packers & Stockyard Surety Bonds may be offered as an alternative.
Solvency Market agencies and dealers must maintain a solvent financial condition to remain in business a common requirement is a Packers & Stockyard Surety Bond or Packers & Livestock Surety Bond. The Secretary of Agriculture may, after notice and hearing, issue an order suspending insolvent market agencies and stockyard owners for a reasonable specified period. If the Secretary finds any packer is insolvent, she/he may, after notice and hearing, issue an order requiring the packer to cease and desist from purchasing livestock while insolvent.

Packers & Stockyard Obligee Divisions Contact Information

Stop 3601
1400 Independence Ave., SW
Washington, D.C. 20250-3601
Telephone: (202) 720-0219
FAX: 202-205-9237
E-mail: GIPSA-Webmaster@usda.gov

75 Ted Turner Drive SW, Suite 230
Atlanta, GA 30303
Telephone 404-562-5840
FAX: 404-562-5848
E-mail: PSPAtlantaGA.GIPSA@usda.gov
States Covered:
AL, AR, CT, DE, FL, GA, LA, ME, MA, MD, MS, NH, NJ, NY, NC, PA, RI, SC, TN, VT, VA, WV, and the Territories of the U.S., including Puerto Rico

Room 317
Federal Building
210 Walnut Street
Des Moines IA 50309
Telephone 515-323-2579
FAX: 515-323-2590
E-mail: PSPDesMoinesIA.GIPSA@usda.gov
States Covered: IA, IL, IN, KY, MI, MN, MO, ND, NE, SD, OH, WI

One Gateway Centre
3950 North Lewiston, Suite 200
Aurora, CO 80011
Telephone 303-375-4240
FAX: 303-371-4609
E-mail: PSPDenverCO.GIPSA@usda.gov
States Covered: AK, AZ, CA, CO, HI, ID, KS, MT, NV, NM, OK, OR, TX, UT, WA, WY

Packers & Stockyard Administration Website

What are Surety Bonds?

A Surety Bond is a written agreement that usually provides for financial compensation in case the principal fails in their duties or promises. A Surety bond is a specialized type of insurance that is created whenever one party guarantees an obligation by another party.

Bruised or Bad Credit?

Bruised Credit or Bad Credit Surety Bonds -- Our Poor Credit Surety Bond Program can help you get the bond you need even if your credit is less than perfect.

Lottery Bonds – Georgia Lottery Corporation

In order to become a Georgia Lottery Retailer Agent the lottery has an application process that involves background history of the location requested on the application, if multiple locations exist those will have to be researched also and submitted per application.