The Missouri public grain warehouseman bond is required by the state’s Department of Agriculture. The surety bond amount has a minimum $20,000 amount, and typically a maximum of $1,000,000. Please call our agency today at: 844-589-9732.
Missouri Public Grain Warehouseman Bond
AmeriPro Surety Bonds | 844-589-9732
Public Grain Warehouseman – Missouri
Public grain warehouseman in Missouri are regulated by the states’s Department of Agriculture.
Provisions regarding the surety bond requirement are discussed in detail under Chapter 411 of the Revised Statutes of Missouri.
Public Grain Warehousmean Bond: Amount of Surety Bond Required
According to Chapter 411.278 of the Revised Missouri Statutes, the amount of surety bond required is the greater of:
- A minimum surety bond amount of $20,000;
- With a bond amount that will typically have a maximum amount of $1,000,000.
The surety bond amount is determined by the capacity of the warehouse. The following is from 411.278.
- No more than 200,000 bushels: 10,000 + 0.25 per bushel of your licensed capacity;
- Over 200,000 but not over 1,000,000: $60,000 + .20 per bushel of excess over $200,000 bushels of licensed capacity;
- Over 1,000,000 but not over 2,000,000: $220,00 + $0.15 per bushel of excess over 1,000,000 bushels of licensed capacity;
- Over 2 million but not over 3 million: $370,000 + .10 per bushel of excess over 2,000,000 bushels of licensed capacity;
- Over 3 million: $470,000 + .05 per bushel of excess over 3,000,000 bushels of licensed capacity.
Pricing for this Surety Bond
The pricing of your Missouri public grain warehouseman bond will be determined by the amount of the surety bond required, a standard surety bond application, and your credit score.
A well qualified applicant may pay as little as 1% of the amount required; however, the amount which any individual applicant will pay will be determined by the criteria referenced above.
Duration of the Surety Bond
Once issued, the bond is active for one year from the date of issuance.
In some cases, you may be able to prepay your surety bond for up to 3 years, thereby offering you a savings over year to year renewal. However, you may want to bear in mind that the amount of surety bond you require may possibly fluctuate from year to year.
About Us
AmeriPro Surety Bonds is a surety bonds only agency. We provide license and permit, court, and fiduciary bonds throughout Missouri.
Please call our agency today at:
844-589-9732
Or, you may fill out the form below and an agent will contact you…
