South Carolina Agricultural Products Dealer and Handler Bond Guide
If you’re applying to be an agricultural products dealer or handler in South Carolina, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure that agricultural product dealers pay producers in a fair and timely manner
- Who Needs It: Agricultural product dealers and handlers in South Carolina
- Regulating Body: The Department of Agriculture, Consumer Protection Division
- Required Coverage: $1,000–$25,000
- Premium Rate: $100–$2,500, credit-based
Learn all about the bond requirements and process in this guide.
What Is a South Carolina Agricultural Products Dealer Bond?
A South Carolina agricultural products dealer bond ensures that dealers sufficiently compensate the product producers. It protects producers from unnecessary financial setbacks if a dealer fails to pay.
How Much Do Agricultural Products Dealer Bonds Cost?
You’ll need a bond equal to 10% of your annual business, with a $1,000 minimum and a $25,000 maximum.
Your premium will cost $10 per $1,000 of coverage, with a $100 minimum. For example, a bond up to $10,000 costs $100 while a $25,000 bond costs $250.
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Who Needs an Agricultural Products Dealer Bond?
The South Carolina Department of Agriculture requires this bond as part of the licensing process for product dealers and handlers in the state.
An agricultural products dealer is any individual or corporation that is involved in the reselling of natural farm products. A handler is concerned with the physical processing and storage of goods for market use.
Examples of agricultural products include:
- Produce
- Livestock
- Harvested crops
- Wine and grape products
How Do I Get My Bond?
With SuretyBonds.com, you can buy your South Carolina agricultural products dealer bond instantly online. Just enter your information and checkout in minutes.
We’ll email you the bond shortly after purchase. Be sure to file it with the Department of Agriculture as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a South Carolina Agricultural Products Dealer Bond Work?
An agricultural products dealer bond creates a legal contract between these three parties:
- Principal: You, the product dealer filing the bond
- Obligee: The South Carolina Department of Agriculture requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of the South Carolina Code of Laws, Chapter 41.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your agricultural products dealer bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.