Montana Commodity Dealer Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose and Amount
The Montana commodity dealer bond is required as a financial guarantee of your compliance with Title 80, Chapter 4, of the Montana Code Annotated as amended.
The surety bond amount required is not to be greater than 2% of the value of commodities purchased by you from a producer within the prior 12 months. For first time applicants the amount of surety is 2% of the estimated amount to be purchased within the next 12 months.
However, the minimum surety bond amount is $20,000; and the maximum amount, according to MCA 80-4-405 is $1,000,000, subject to the exceptions listed therein.
Unless this has changed, your surety bond will have a renewal date of June 30th of each year.
Qualifying and the Premium
Qualifying for the Montana commodity dealer bond includes completing a short surety bond application — which we’ll begin with you over the phone – and then send to you via DocuSign for completion.
You’ll need to provide us with the amount of surety required.
Upon receipt of your completed and signed application, our agency has the application reviewed by an underwriter. This review includes a credit check inquiry. Good credit is required for approval.
For especially large amounts, you may also be asked to provide additional information. This request will typically mean information regarding your business and/or personal finances.
Approval for this bond is offered at 1% annually of the amount required.
Upon approval of your surety bond application and payment of the premium, our agency issues your bond to you immediately for filing along with a Power of Attorney form.
We will sign your surety bond as Surety; you will sign and have it notarized as Principal. All completed surety bond documents received by you via mail will be filed to:
Montana Department of Agriculture
P.O. Box 200201
Helena, MT 59620
Prorating of the Premium
With an expiration date of June 30th, depending on the date of your surety bond’s purchase, the premium may be prorated to account for the required surety bond term.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, Court, probate, and other surety bonds in Montana and all 50 states.
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Or, you may fill out the form below and a Surety Agent will contact you….