Commodity Dealer

Exam

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Education

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Experience

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Background check

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Agricultural commodity dealers must be licensed in Idaho by the Idaho State Department of Agriculture. Commodity dealers have two classes of licenses. Class 1 commodity dealers licenses are required for dealers that purchase agricultural commodities by credit-sale contract or if the value during the past 12 months exceeds $250,000. Class 2 licenses are required for dealers that purchases agricultural commodities in a 12 month period exceeding $10,000 and less than $250,000. Applicants for licensure must: 1.) Submit an application with required documents and fees; 2.) Post a surety bond with the Department of Agriculture; 3.) Provide an audited or reviewed financial statement. Term: Licenses are renewed annually. Fees: licensing fees for a commodity dealer are based on the class type. Class 1 is $360, class 2 is $180. Renewal fees for a commodity dealer are also based on the class type. Class 1 is $65, class 2 is $35. A license which has expired may be reinstated for a fee of $500 plus the renewal fee if filed within 30 days of expiration.