Grain Dealer

Exam

No exam

Education

None

Experience

None

Background check

None

A Grain Dealer is a person that operates as a grain buyer in the state of Arkansas that is not licensed under the Arkansas Public Grain Warehouse Law, the United States Warehouse Act and is not an end user of grain. Requirements: 1. A Certified Financial Statement must be submitted annually. The financial statement must have a closing date within the last 4 months. 2. Must submit application forms GD-1 or GD-2. 3. Surety must be posted in the form of a Bond, Letter of Credit, or Certificate of Deposit. Minimum surety required is $50,000. 4. A corporate charter must be submitted if operation is a corporation. 5. Must maintain records in accordance with the law and regulations. Examinations and Fees: No fees are charged for examinations. Each licensed dealer is audited annually by Plant Board Auditors. This is necessary for assurance that the grain dealer operates within the law. New applications must be accompanied by a one-hundred fifty dollar ($150.00) fee. Renewal license fees will be based on the dollar amount of grain purchases. The renewal date is June 30 of each year. Warehouses are charged $40.00 per man-hour, if additional trips are required to correct problems.