The Food Stamp Surety Bond is required by the US Department of Agriculture to ensure that the USDA will receive payment from a retailer who has had a violation that results in collection from the USDA. These types of bonds are only required in the first year of business as a retail food business.
The bond is to protect your clients from any harm or wrongdoing by your company. If they feel you have wronged them in a financial matter they can file a claim with your surety company. The claim will be researched and if the surety company pays out, you must pay them back.
This bond is fairly easy to obtain and only requires a completed application.
How do you know what bond amount to use?
The USDA requires a minimum bond amount of $1,000 or 10% of your average monthly coupon redemption volume in a 12 month time period.
How to Get Your Food Stamp Surety Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.