North Carolina Grain Dealer Bond

A North Carolina Grain Dealer Bond is a type of surety bond required by the North Carolina Department of Agriculture and Consumer Services for individuals or businesses engaged in the purchase and sale of grain. The standard bond amount required for grain dealers in North Carolina is $100,000 and the cost of the surety bond is usually between 1% and 3% of the bond amount.

How to Get a North Carolina Grain Dealer Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day. ²
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the North Carolina Grain Dealer Bond will be shipped to the bond applicant.
^{1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
2- Subject to underwriter approval, based on aggregate surety bond exposure, additional underwriting information may be required}

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.

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Who Needs This Surety Bond?

Any individual or business entity that operates as a grain dealer in North Carolina is required to obtain a grain dealer license and the corresponding surety bond. This includes:

• Grain elevators: Facilities that store and handle large quantities of grain.
• Feed mills: Businesses that purchase grain to process into feed for livestock.
• Independent grain buyers: Individuals or companies that purchase grain directly from farmers.

Exemptions: It’s important to note that there are some exemptions to the grain dealer bond requirement. For example, producers or groups of producers buying grain for consumption on their farms are generally exempt. If you are involved in the purchase and sale of grain in North Carolina, it’s crucial to determine if you meet the definition of a grain dealer and if you are required to obtain a license and North Carolina Grain Dealer Bond.

Operating a grain dealership in North Carolina without the required surety bond can lead to severe consequences. The most immediate consequence is the revocation of your grain dealer license. This would prevent you from conducting grain buying and selling activities. Non-compliance with state regulations can result in significant financial penalties and potential legal action.