Livestock Market Agencies, Dealers and Packers are required by the United States Department of Agriculture (USDA) Grain Inspection, Packers and Stockyards Administration’s Packard and Stockyards Program to file a Livestock Market Agencies, Dealers and Packers Bond under the Packers and Stockyards Act of 1921 as amended.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Livestock Market Agencies, Dealers and Packers holds you accountable for your business decisions.
By possessing a Livestock Market Agencies, Dealers and Packers, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.