Question

2)What is farmer's bond?​

Answer 1

Answer:

Agricultural packers, market agencies, and dealers need to obtain agricultural bonds in order to comply with the U.S. Department of Agriculture’s requirements, as well as with state regulations. Agricultural bonds have also been known as agricultural packers and stockyards bonds.

This type of surety bond acts as a safety net for the federal government and the state you operate in. It guarantees that agricultural businesses will abide by the rules set forth in the Packers and Stockyards Act, and will account properly for sales of agricultural products and livestock.

Like other surety bonds, agricultural bonds function like a three-party contract. Your agricultural business is the principal that needs to obtain the bond. The federal or state authority requiring the bond is the obligee. The surety is the entity which provides the bond.

Explanation:

Answer 2

Answer:

Agricultural packers, market agencies, and dealers need to obtain agricultural bonds in order to comply with the U.S. Department of Agriculture’s requirements, as well as with state regulations. Agricultural bonds have also been known as agricultural packers and stockyards bonds.

This type of surety bond acts as a safety net for the federal government and the state you operate in. It guarantees that agricultural businesses will abide by the rules set forth in the Packers and Stockyards Act, and will account properly for sales of agricultural products and livestock.

Like other surety bonds, agricultural bonds function like a three-party contract. Your agricultural business is the principal that needs to obtain the bond. The federal or state authority requiring the bond is the obligee. The surety is the entity which provides the bond.

Explanation:

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