Packers & Stockyards Bond
No Membership Required
✔ Market Agencies
✔ Clearing Agencies
WHAT WE DO
International Sureties has issued Packers & Stockyards bonds for decades, and our streamlined process provides quick feedback. Our exclusive bond program typically offers terms within 24 hours without any membership organization to join.
We also have a program in place to assist those with poor credit.
Click below to apply or reach out to Liz Dukes directly.
For assistance with P&S Bonds, please contact our Packers & Stockyard Bond Specialist:
Do you require membership in an organization to access the bond?
No. That’s the short answer. The only charges will be at the International Sureties industry leading rates without any additional fees unrelated to the bond.
Which Clause am I?
Clause 1 – Applicable if the bond Principal sells on commission
Clause 2 – Dealers and market agencies buying on commission
Clause 3 – Market agencies acting as a clearing agency for others
Clause 4 – Applicable if the Principal buys as a Packer
Are there any alternatives to getting a bond?
Yes, alternative forms of security include Trust Funds and Letters of Credit, which can be given directly to the USDA. Typically both of these options require 100% collateral, while International Sureties attempts to qualify its clients for a bond without the need for any collateral, in a much cleaner, faster, and easier method to satisfying the USDA’s requirements.
How fast can the bond be issued?
The bond can be approved the same day a submission is made.
What happens if there is a claim on my bond?
The USDA will notify both you and the surety company about a claim. It is in your best interest to handle the claim yourself without the surety making payment as any funds paid by the surety will have to be reimbursed to the surety including attorney’s fees, if any incurred.
What is a Packer & Stockyard Bond?
The bond secures a dealer, market agency buying on commission, or clearing agency’s obligations to livestock dealers. International Sureties has substantial resources to arrange for P&S bonds and keep the process easy and cost effective.
Per the USDA, every dealer, packer, market agency buying on commission, and clearing agency must execute and maintain a reasonable bond or bond equivalent, to secure its obligations to livestock sellers.
The amount is typically based on the volume of business done in two business days, but at a minimum of $10,000. The figures are determined based on annual livestock self-reporting submitted to the Central Reporting Unit of the PSD by each entity.
The bond protects livestock sellers and ensures that any particular packer, dealer, seller on commission, or market agency acting as a clearing agency acts ethically so that any funds exchanged with any of these entities during the course of their regulated services are accounted for and not stolen or misappropriated before they reach the livestock seller.
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Call, email, or submit this form to get in touch so we can get you the bond you need.