The Director of the Missouri Department of Agriculture requires that all public grain dealers must post a $50,000 surety bond before obtaining a state grain dealer license.
How much does a Missouri grain dealer bond cost?
The cost of a Missouri public grain dealer bond is subject to underwriting consideration, meaning that an underwriter must review an applicant’s financial history and credit before determining whether — and at what price — a bond can be issued.
The best way to determine how much you will pay for your MO surety bond is to get a free bond quote today!
Why are grain dealer bonds required?
A surety bond is required by the state of Missouri as a form of consumer protection. If a bonded grain dealer were to practice negligence or cause any harm to a consumer, affected customers could file a claim against the surety bond up to the bond’s full amount.
How to become a licensed Missouri grain dealer
Any individual looking to become a licensed Missouri grain dealer must first complete the Application for Missouri Grain Dealer License. The definition of who qualifies as a grain dealer, according to the Department of Agriculture, can be found here. The following information must be provided on the license application:
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Provide applicant headquarter and location information for all business locations
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Indicate your type of business
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Individual proprietor, partnership, or corporation
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If you choose corporation, indicate whether the business is Sub S, Cooperative, or LLC
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Provide names and addresses for all officers, partners, and/or LLC members
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Indicate the type of license you are applying for
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Missouri grain warehouse license, Missouri grain dealer, or grain handling facility
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Indicate all the services the company will be providing
The following documents are also required with the license application: