If you have not received payment according the payment timeline, contact Agricorp immediately to notify the Director. Agricorp staff will work with you to make a claim to the Livestock Financial Protection Board, including sending you the required documentation to file a claim.
Sale by a producer to a dealer or a dealer to another dealer
You must submit your claim within 30 business days from when payment was due.
Sale by a dealer to a producer or breeder or feeder cooperative
You must submit your claim no later than 30 business days from date of sale.
After you submit your claim forms, the Livestock Financial Protection Board will contact you with next steps.
Note: Claims are administered and adjudicated by the Livestock Financial Protection Board.
Financial protection for beef cattle producers and licensed dealers selling to licensed dealers
Beef cattle producers may be financially protected when they sell their beef cattle to a licensed dealer and that dealer does not meet their payment obligations. Licensed dealers that sell to other licensed dealers are also protected.
The Livestock Financial Protection Board can pay the seller 95% of any approved claim taking in to account amongst other factors whether:
- The sale was to a licensed dealer
- Proper notification procedures for non-payment were followed
- The claim was filed within 30 business days from when the payment was due
- The parties involved did not agree to alternate payment timelines
Financial protection for licensed dealers selling to producers
If a licensed dealer sells beef cattle to a producer (including a breeder or feeder co-operative) and the producer defaults on payment, the seller can file a claim. The Livestock Financial Protection Board can pay the seller 85% of any approved claim, up to a maximum of $125,000. There are several factors considered when determining a claim, including:
- Whether proper notification procedures for non-payment were followed
- If the claim was filed no later than 30 business days after the day of sale
No compensation is provided for a claim that is $5,000 or less.
