New York Milk Dealer Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing of Milk Dealers
Milk dealers in New York state are required to furnish a surety bond if they choose not participate in the state’s milk producer’s security fund.
The amount of the milk dealer surety bond will be either:
- the value of the milk received from 2 consecutive months during the preceding 12 months of the highest aggregate value of milk purchased, divided by the number of days in those 2 months, and theb multiplied by 40;
- OR the amount owed by the milk dealer in the same 2 month period owed to the equalization or settlement fund, divided by the number of days in those two months, multiplied by 40.
The above is according to Section 258-B (6) of the Consolidated Laws of New York state.
Qualifying and the Premium
You are automatically approved for the New York milk dealer bond for any amount up to and including $50,000. There will be no credit check or underwriter review for these amounts, and the premium is 1.5%.
Amounts greater than $50,000, if applicable, require a completed surety bond application and a review by an underwriter. Included in this review is a credit check inquiry.
Approval is granted based on having good credit. The premium is also 1.5% of the surety bond amount.
Upon approval of your surety bond and payment of the premium, our agency issues your bond to you immediately.
Along with your surety bond will be a Power of Attorney form. Upon receipt by mail, you’ll sign your bond as Principal and file all received documents to:
Commissioner of Agriculture & Markets of the State of New York
10B Airline Drive
Albany, NY 12235
The bond is active for one year from the date of issuance.
Purpose of Your Surety Bond Requirement
Your milk dealer surety bond is a financial guarantee that you will promptly pay all amounts due to milk producers and to the equalization or settlement fund, as applicable.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide milk producers bonds in whatever state this is required.
We are also a provider of license and permit, court, and probate surety bonds nationwide.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…