For producers
The Grain Financial Protection Program protects producers if their grain dealer or elevator operator defaults on payment obligations.
Grain dealer defaults
When you sell grain to a licensed dealer, you pay a fee known as a “check-off.” The check-off goes into a fund to protect the financial interests of grain owners.
If the grain dealer becomes insolvent, you can make a claim for the grain for which you have not received payment.
Elevator operator defaults
When an elevator operator becomes insolvent, the Chief Inspector is authorized under the Grains Act to seize the stored grain and:
- Distribute it to owners on a proportionate basis, or
- Sell it and distribute the proceeds to the owners on a proportionate basis.
For grain dealers and elevator operators
You must apply for and renew your licence each year.
Agricorp may audit and inspect your business locations to ensure that you comply with the requirements of the program.