Texas Grain Warehouse Operator Bond

Price: Varies
Texas Grain Warehouse Operator Bond
The process of applying for a Texas Grain Warehouse Operator Bond Surety Bond is a quick and straightforward process, typically taking only about five minutes from start to finish.


To purchase your Texas Grain Warehouse Operator Bond simply click on the "Buy Now" button. You will then be guided through a brief set of questions. After which you'll pay online and sign using DocuSign. Your new surety bond will be signed and sealed as a full-color PDF document for printing.

Securing a Texas Grain Warehouse Operator Bond surety bond is a commitment by principals to adhere to the stipulations of contractual and legal obligations.

Note: If the bond requires underwriting, it may take up to 24 hours.

The State of TX

Surety Bond Details

State: TX
Category:
Class:
Obligee: State of Texas Depart...
Amount: Varies

Cost: Varies

The State of TX
State:
TX
Category:
Obligee:
State of Texas Department of Agriculture
Amount:
Varies
Duration:
Expiration:
 
SORPid:

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Texas Grain Warehouse Operator Bond Details

The requirements for a Texas Grain Warehouse Operator Bond (Schedule D) are outlined in the following points:

  1. Financial Requirements:
    • The Warehouse Operator must have a total allowable net worth of at least $200,000, with any deficiency supplied by an increase in the amount of financial assurance[1].
    • The Operator must have total allowable current assets equal to or exceeding total current liabilities or provide evidence that funds will be and remain available to meet current obligations[1].
  2. Insurance Requirements:
    • The Operator must have adequate insurance covering all depreciable fixed assets and inventory claimed on their financial statement[1].
  3. Bonding Requirements:
    • The bonding requirements for a grain warehouse are now a flat rate of 10 cents per bushel of rated storage capacity, with a minimum bond amount of $35,000[2].
  4. Licensing and Compliance:
    • The Operator must be licensed under the United States Warehouse Act (USWA) and ensure all grain accepted for storage is stored in their licensed warehouse space[1].
    • The Operator must maintain a system of records, including a Master Daily Position Record (DPR), which must be accurate and concise, and include records of grain received, loaded out, adjustments, and remaining in the warehouse[1].
  5. Reporting Requirements:
    • The Operator must provide annual financial statements to the Agricultural Marketing Service (AMS) within 90 calendar days of the fiscal year end, or more frequently if required[1].
    • The financial statements must include a balance sheet, statement of income, statement of retained earnings, statement of cash flows, and notes to the financial statement[1].
  6. Operational Requirements:
    • The Operator must have personnel or contractors available who are licensed to inspect, sample, classify, and/or weigh grain, and who have integrity, good judgment, and proven performance[1].
    • The Operator must ensure that all grain accepted for storage is stored in the Warehouse Operator's licensed warehouse space and that the facility is suitable for storing, shipping, or handling grain[1].
  7. Departmental Powers and Duties:
    • The Texas Department of Agriculture has the power to investigate, inspect, and regulate grain warehouses, including the right to enter facilities, seize records, and order corrective actions if necessary[3].

These requirements ensure the financial integrity, operational efficiency, and compliance of grain warehouses in Texas.

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