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Virginia Agricultural Products Dealer Bond

Virginia Agricultural Products Dealer Bond

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Who Requires the Agricultural Products Dealer Bond and Why Is It Needed?

Grocery Store. Agricultural Products Dealer Bond for those who sell agricultural products.

Agricultural product dealers must post surety bonds as required by the Virginia Department of Agriculture and Consumer Services. Anyone who buys, sells, solicits for sale, processes for sale or resale, resells, exchanges, negotiates, purchases or contracts for processing or transfers any agricultural product of a producer is subject to the bond requirement.

The bond amount is equal to the maximum amount of gross business the applicant generated in any month in the Commonwealth during the preceding licensing year, but in no event will the bond amount exceed $40,000. A new dealer is required to post a $40,000 bond for the first year of operation.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Virginia Agricultural Products Dealer Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

What Does the Bond Protect Against?

The bond obligates the dealer to properly account for and make payment to producers, and their agents or representatives, for all agricultural products bought from or handled or sold for such producers, their agents or representatives, as required by Section 3.1­ 722.5, Code of Virginia. The surety company may cancel this bond by giving 30 days written notice, by registered mail to the Commission of Agriculture and Consumer Services.

List of Virginia surety bonds.

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