026-Uncaster Farming, Saturday, September 25,1982
USDA proposes $lO,OOO minimum bond for small volume buyers
WASHINGTON, D.C. - The U.S.
Department of Agriculture has
proposed a $lO,OOO minimum bond
requirement for small volume
livestock dealers and order buyers
who are subject to the Packers and
Stockyards Act.
Farmers and ranchers who
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Hoßugefi'n „*gV
TWO CONVENIENT LOCATIONS:
1755 W. Main St. 222E.MainSt.
Ephrata, PA 17522 Cambelltown, PA 17010
Located on Route 322 Phone (7 17) 838-6021
iPhone (717)738-1131 .
purchase livestock for stocking or
feeding purposes are not required
to file a bond.
B.H. Jones, head of USDA’s
Packers and Stockyards Ad
ministration said USDA’s proposal
last February to eliminate the
minimum bond for small volume
dealers and order buyers drew for buyers doing less than $500,000
strong opposition frolm the worth of business annually, rather
livestock industry. than the present $5,000
“A great majority said more requirement.”
bonding was needed for the small Coupled with the new bonding
volume operators, not less,” Jones proposal is another which would
said. “As a result we now propose permit market agencies, dealers
to require a $lO,OOO minimum bond ■ and packers to file an irrevocable
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• Benji Seller & Ben Beiler Jr.,
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• E&R Plumbing (717) 354-5554
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« :— :
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STAUFFER’S MACHINE SHOP
RD3, Ephrata, Pa. Phone: <717) 733-4128
V* Mile South of Rt. 322 on
Pleasant Valley Rd., Ephrata Exit New Rt. 222
letter of credit in lieu of a bond.
“We believe the letter of credit
proviso will provide greater
flexibility to persons who must file
a bond and may reduce their costs
of doing business, ” Jones said.
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