SEON | willvr - 1/18/2019 23:27
Are most grain companies in eastern Canada bonded by the Canadain Grain Commission? In the west, all the major players are. Occasionally one of the smaller ones goes under, and farmers don't always collect everything owed, but usually a decent percentage. If you sell to a company that isn't bonded, you have no protection. The best strategy for that type of buyer is to wait with the delivery of the second load until the first load is paid for.
Not really sure about bonded by the CGC, but like Dale said, if we sell to a buyer that’s lisenced by Agricorp I think we are covered under the Grain, Financial Protection program. I got burned because the GFPP only covers corn, soy, wheat and canola. I delivered one load of buckwheat worth $23,000 CDN.
My question was more about the US buyers though. Since I posted this question I’ve discovered that grain buyers in NY are bonded. There is also a buyer in MN called Pipeline Foods. I’m trying to figure out what their deal is |
How do avoid getting your grain stolen?
