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Alabama Public Warehouseman Surety Bond

A grain elevator warehouse

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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 operation of public warehouses. A public warehouseman will need to comply with all state rules and regulations including issuing of and use of authorized receipts and obtain a permit to offer services. In addition to the permit, a surety bond may be required that ensures compliance of state laws and faithful performance of duties.

Permit and Surety Bond Requirements:

  1. Completion of the application for the Public Warehouseman 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. A surety bond in the amount of $5,000 is required 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.

How Much Will This Bond Cost?

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

Did You Know?

The Alabama permit for public warehouseman must be renewed by July 31 of each year.

Related Links:

Alabama Gins & Warehoues Information
Alabama Gins & Warehoues Administrative Code

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