The Wyoming Grain Warehouse/Warehouseman’s Bond is required by the Wyoming Department of Agriculture. The bond states that the bondholder shall comply with all terms, conditions, provisions and requirements of said statutes. Subsequently, the bondholder will be held liable for any fines, penalties and damages from someone suffering a loss or damage. The amount will be determined by the department. It will be based on the maximum number of hundred weight the warehouseman can store in the warehouses. The minimum bond amount is $20,000.
Who needs to get a Wyoming Grain Warehouse/Warehouseman’s Bond?
Anyone filing an application with the Department for a license to store, buy, sell, warehouse or hand grain. The Wyoming Grain Warehouse/Warehouseman’s Bond is one of the licensing requirements.
A warehouseman is any person, except the grower, who handles grain for commercial storage or solicits grain for the purpose of intrastate, interstate or foreign commerce. A warehouse, meanwhile, may mean an elevator, mill, storage bin or building, subterminal grain storage facility, public storage facility or other structure or facility in which grain is received for commercial storage.
What are other licensing requirements?
Aside from the bond, the applicant must also submit a completed application form. As well as, any tax return, bank statement, financial statement or audit prepared by a certified public accountant. In addition to any other information that can establish financial responsibility.
How do I get a Wyoming Grain Warehouse/Warehouseman’s Bond?
Surety1 can easily get you the bond that you need. First, start the process by completing our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your Wyoming Grain Warehouse/Warehouseman’s bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
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