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Livestock Dealer Bond

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What is a Livestock Dealer Bond?

Individuals and businesses that buy and sell livestock in the United States are required to hold a livestock dealer bond. This surety bond is a necessity when obtaining a livestock dealer license under the Packers and Stockyards Act. A livestock dealer bond helps guarantee that a livestock dealer will operate in line with state and federal laws, protecting livestock producers in the process.

As a surety bond, a livestock dealer bond is a contract between three parties. The principal is the livestock dealer required to hold a bond; the obligee is the state or federal licensing authority requiring the bond to be in place; and the surety is the company providing the bond. If a livestock dealer does not operate according to current rules and regulations surrounding the buying and selling of livestock, a claim may be made against the bond.

What Does a Livestock Dealer Bond Cost?

Livestock dealers are not required to pay for the entire bond amount necessary to obtain their license to do business. Livestock dealer bonds are instead priced as a percentage of the total bond, typically ranging from 1 to 10%. For example, a bond requirement of $20,000 may only cost 5%, or $1,000. The percentage you pay as a livestock dealer depends on several different factors, including the bond amount required and your personal credit score.

When a surety agency is evaluating a livestock dealer bond application, they want to know how much of a risk you present as a bondholder. If you have bad credit, minimal business assets or high business liabilities, you are a higher risk than someone with better financial standing. For this risk, your bond price as a percentage of the total bond amount will be higher.

How to Get a Livestock Dealer Bond

You can begin the process of securing a livestock dealer bond by submitting a fast and easy quote request online. Once you submit an application, your bond premium is determined based on the factors mentioned above.

Frequent Questions

How much does this bond cost?

The cost is usually 1 – 10% of the bond amount. Keep in mind that pricing varies based on the bond amount, and your financial strength.

What is the process?

Apply and get approved on our website, sign the surety agreements, and we will ship the bond out. If you would like to learn more about what surety bonds are and how they work, you can read our detailed guide here.

Can I get this bond with bad credit?

Yes, it’s possible, but bad credit usually results in higher rates.

What if a false claim is filed?

You must contact us immediately, as we have a team of claim specialists here to find a resolution for you. Keep in mind, it is crucial that you work with an expert in the surety industry. Learn more about how to ensure you choose the proper bond company.

Are you looking for a different type of bond?

You can take a look at our full list of license and permit bonds.

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Jennifer Henson
Our company has been with JW Surety for several years now so when we needed to obtain a bond for a new company, we immediately went to them for help. Our rep, Melissa, was extremely helpful and prompt which made the process extremely easy for me.
David Tillotson
Trying to get a local Surety Bond was like driving a car on three tires. I searched Surety Bonds and found JW Surety Bonds. I got online and filled out the information and with in 30 minutes received a response from Melissa. She was informative, friendly and helpful. One more super satisfied customer.

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About JW Surety Bonds
We are a family owned and operated agency established in 2003. We started with just two people, and grew to become the largest volume bond producer in the nation with 50+ employees. Since day one, our team focus has been on providing real-time online quotes, an easy process, and the best in claims defense. Learn more about our company.