In Nevada, livestock and/or farm product brokers, commission merchants, or dealers must file a surety bond with the State Department of Agriculture, Division of Livestock Identification as a licensing requirement. If a broker, commission merchant, or dealer conducts fraudulent business or fails to make payment of dues during the sale or purchase of livestock or farm products, the Dealer, Broker, and Commission Merchant Bond can be used for restitution.
Getting your Nevada Livestock Broker, Commission Merchant, and Dealer Bond with Jet allows you to proceed with your licensing and conducting your business.
Jet can offer the bond for livestock dealers, brokers, and commission merchants for as little as $100 for a $5,000 bond limit. Of course, the price will vary depending on what bond limit you are required to carry; a soft credit check will also be instrumental in determining your quote. You can find what an applicant with preferred credit can be quoted at different bond limits.
Regardless of your bond limit being the minimum of $5,000 or the maximum of $100,000, you will receive a quote from Jet that is in your favor. Jet is a direct insurance carrier, meaning there aren’t any broker agent commissions or unnecessary fees added to your quote.
The Division of Livestock Identification, of the Nevada Department of Agriculture, is charged with protecting livestock owners and producers against theft and illegal business practices by regulating livestock licensing. This bond coincides with this mission as a way to compensate those who are injured by a licensee’s actions:
Farm products are as follows: poultry and poultry products, livestock and livestock products, hay, and soil products. Timber or milk and milk products are not considered farm products.
All you need to do to apply is click through our streamlined application, which only asks for information pertinent to getting the bond. This includes business information, the required bond limit, and a social security number that is used for a soft credit check.
Once you are done, you can see what rate you qualified for if your bond limit is under $15,000; you can also purchase the bond immediately. For bond limits that are higher than $15,000, a Jet team member will do a quick review before sending you an emailed quote that you can purchase. If additional information is needed, we will contact you.
After you complete your purchase, Jet will get your bond prepared and send it over to you. You must sign and submit it along with your license application.
Once ready, you should file the bond to the following address:
Nevada Department of Agriculture
Division of Livestock Identification
4780 E Idaho St
Elko, NV 89801
Yes, you can cancel your bond by emailing Jet at email@example.com. We will request cancellation with the Department, but the bond will stay in effect for an additional 30 days. After the Department releases Jet from liability, our team will review the time left on the bond for any available refund.
You will receive an emailed and mailed renewal notice for your bond. Simply fill out the notice and mail it back or complete the renewal online. Once we receive payment for the new term, we will take care of the rest.
If your bond amount changes, it’s important to let us know so we can adjust the bond accordingly to reflect the appropriate coverage.
As a livestock commission merchant, dealer, or broker you are obligated to follow the regulations of your license as well as the Nevada Revised Statutes, Chapter 576. By following these standards, you will be able to avoid claims on your Broker, Commission Merchant, and Dealer Bond by not engaging in:
If any of these violations occur, the nonprofit organization, farm producer, or licensed dealer, broker, or commission merchant can file a claim to be reimbursed, as well as take civil action. Once it gets to this stage, Jet will need to verify the claim and if it is found to be legitimate, Jet is obligated to pay the injured party. Jet makes the payment on your behalf so the damage is restored, but you must still pay Jet in the amount that was paid out. To avoid a headache for all parties involved, it’s best to act according to the standards expected.