Miscellaneous Bonds
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SOLUTIONS FOR ANY MISCELLANEOUS BONDS REQUEST
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Miscellaneous Bonds
Florida Agricultural Products Dealer bonds
ensure that the Principal will faithfully and truly account for and make payment to producers, their agents or representatives, and/or other licensed agricultural dealers, for all agricultural products bought, handled or sold.
PACA (Employment) bonds
are obtained by a licensed firm who would like to hire an individual who is currently under employment restrictions. The bond provides assurance that business will be conducted in accordance with the PACA, and is held by PACA for 4 year plus 9 months.
PACA (License) bonds
are needed when a company or principals of a company have been involved in a bankruptcy within the last three years. The bond provides assurance that business will be conducted in accordance with the PACA. These bonds are held by PACA for 3 years plus 9 months.
PACA (Reparation) bonds
are needed when a foreign company files a formal complaint against a PACA licensed firm. The amount of the bond is double the amount of the complaint.
Packers & Stockyards bonds
are required by the USDA from every dealer, packer, market agency buying on commission, and clearing agency to guarantee their obligations to livestock sellers.
Pennsylvania Milk Dealer and Sub-Dealer bonds
are state licensing requirements and guarantee faithful compliance under the laws and regulations of the Commonwealth of Pennsylvania Milk Marketing Board.
Utility bonds
are often required of utility customers to ensure they will pay all bills due for utility services. If a principal on a bond fails to pay on time and in full, the utility company can file a claim against the bond.