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.
According to Chapter 411.278 of the Revised Missouri Statutes, the amount of surety bond required is the greater of:
The surety bond amount is determined by the capacity of the warehouse. The following is from 411.278.
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.
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.
AmeriPro Surety Bonds is a surety bonds only agency. We provide license and permit, court, and fiduciary bonds throughout Missouri.
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