Georgia Grain Dealer Surety Bond
Grain Dealers who do business in Georgia must be licensed by the Georgia Department of Agriculture's State Warehouse Division, and are required to obtain a surety bond.
Surety Bond and License Requirements:
Grain dealer applicants must submit an application for a Georgia grain dealer license and pay the applicablie license fee. Applicants will also need to submit copies of reviewed or audited financial statements and maintain a minimum equity of $20,000. Applicants must also disclose where the grain will be weighed. Grain dealers that have a scale will need to obtain a Certified Public Weigher’s license.
Applicants are required to obtain a surety bond. The surety bond amount is based on producer purchase activity and can range from $20,000 to $300,000. Dealers who operate their activities at more than one physical location must have a surety bond for each location.
Instead of a surety bond, a letter of credit, or certificate of deposit can be deposited with the State in an amount equal to the bond.
Licensees must submit their surety bond and their application for Georgia Grain Dealer License to the Georgia Department of Agriculture.
How Much Will This Bond Cost?
The premium that you pay for a Georgia Grain Dealer Surety Bond is dependent on credit, the bond amount required and the number of locations. Our rates start at 1% of the bond amount with good credit. For bond amounts over $50,000 personal and/or business financial statements are required.
Related Links:
Georgia Grain Dealer InstructionsGeorgia Grain Dealer License
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, buy from us. 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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