The Ontario Beef Cattle Financial Protection Program provides financial protection to beef cattle sellers when a licensed dealer defaults on payment. Administration of the program is funded by the Government of Ontario.
The ministry licenses all beef cattle dealers (including country dealers, abattoirs, auction markets, associations and meat packers). Beef cattle producers must sell their animals to a licensed dealer and pay a check-off fee on each sale. The fees are deposited into a fund.
Two types of claims can be made against the fund:
- Cattle sellers may make a claim if a licensed dealer defaults on payment. Compensation is 95 per cent on approved claims.
- Licensed dealers may make a claim if a producer defaults on payment. Compensation is 85 per cent, up to a maximum of $125,000. There is no compensation for claims less than $5,000.
The Livestock Financial Protection Board (LFPB) manages the fund and determines if a claim should be paid.
Agricorp supports the ministry in licensing dealers, collects the check-off fees and supports the LFPB.
The Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) manages program policy, licensing decisions, investigations and enforcement.
How to participate
For information on how to obtain a dealer licence or make a claim, contact Agricorp at 1-888-247-4999.
For more information and a list of licensed dealers, please visit the
Ontario Ministry of Agriculture, Food and Rural Affairs website.