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Alabama Cotton Warehouseman Surety Bond

Cotton is piled up at a warehouse

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Alabama Cotton Warehousemen must go through a permit process to be licensed. A part of the process includes obtaining a security such as an Alabama Cotton Warehouseman Surety Bond. The State of Alabama Department of Agriculture and Industries, Gin and Warehouses Section, is responsible for issuing permits for public warehouses, grain dealers, cotton merchants and cotton gins, as well as inspections of gins and auditing of public warehouses and grain dealers. Chapter 80-6-5 of the Alabama Department of Agriculture and Industries Gin and Warehouses Administrative Code defines the regulations for the operation of public warehouses.

Surety Bond and Permit Requirements:

  1. Completion of the application for the public warehouse permit and payment of the permit fee.
  2. Provide a copy of the Certificate of Insurance state that is for warehouseman’s legal liability.
  3. The application requires the applicant’s signature to be notarized and must include the products stored and the highest estimated value of such. All addresses for storage must be included on the application.
  4. Obtain a surety bond in the amount of $5,000 or provide a Letter of Credit, or cash. If providing cash or a letter of credit, the applicant must also file a Trust Fund Agreement form.
  5. Licenses and bonds renew annually July 31st of each year.

How Much Does an Alabama Cotton Warehouseman Bond Cost?

The premium that you pay for an Alabama Cotton Warehouseman Surety Bond is dependent on credit.

Did You Know?

Those who store agricultural products can apply for a license under the US Secretary of Agriculture. The application is voluntary.

Related Links:

Alabama Department of Agriculture & Industries: Gins & Warehouses
United States Warehouse Act

More Surety Bond Questions?

Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.

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