Warehouse & Storage Strategies

Bond Types and Levels Public Grain Warehouse - determined by licensee's total physical capacity licensed in ND, the length of time the licensee has been licensed, the licensee's annual grain purchase volume*, and the licensee's scale ticket conversion policy**. • Licensed less than 7 years $65,000 minimum $2,000,000 maximum unless Commissioner determines additional bond is needed Licensed 7 years or more $50,000 minimum $2,000,000 maximum unless Commissioner determines additional bond is needed *If more than 7 times its total licensed and bonded capacity, additional bond coverage is required at a rate of $5,000 for each 25,000 bushels or fraction. **A required bond may be reduced by 30% if licensee establishes and follows a conversion policy of 10 days or less and by 15% for a policy of 11 to 21 days. DAKOTA NORTH DEPARTMENT OF AGRICULTU

View entire presentation