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Form SFN7573
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Form SFN7573 Grain Elevator Warehouse Bond - North Dakota
What Is Form SFN7573?
This is a legal form that was released by the North Dakota Department of Agriculture - a government authority operating within North Dakota. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form SFN7573?
A: Form SFN7573 is the Grain Elevator Warehouse Bond used in North Dakota.
Q: What is a Grain Elevator Warehouse Bond?
A: A Grain Elevator Warehouse Bond is a type of surety bond that guarantees the payment of grain deposits made to grain elevators and warehouses.
Q: Who needs to use Form SFN7573?
A: Grain elevators and warehouses in North Dakota need to use Form SFN7573 to obtain a bond.
Q: Why is a Grain Elevator Warehouse Bond required?
A: A Grain Elevator Warehouse Bond is required to protect the farmers and grain producers in case the grain elevator or warehouse fails to fulfill their obligations.
Q: What does Form SFN7573 include?
A: Form SFN7573 includes the name and address of the grain elevator or warehouse, the penal sum of the bond, and the name of the surety company issuing the bond.
Q: How can I obtain Form SFN7573?
A: Form SFN7573 can be obtained from the North Dakota Department of Agriculture or through a licensed surety bond provider.
Q: How much does a Grain Elevator Warehouse Bond cost?
A: The cost of a Grain Elevator Warehouse Bond can vary depending on the creditworthiness of the grain elevator or warehouse, but typically ranges from 1% to 3% of the bond amount.
Q: How long is a Grain Elevator Warehouse Bond valid for?
A: A Grain Elevator Warehouse Bond is usually valid for one year, and needs to be renewed annually.
Q: Can a Grain Elevator Warehouse Bond be canceled?
A: Yes, a Grain Elevator Warehouse Bond can be canceled with written notice from the surety company.
Q: What happens if a claim is made against the Grain Elevator Warehouse Bond?
A: If a valid claim is made against the Grain Elevator Warehouse Bond, the surety company will investigate the claim and may have to pay out the claimed amount to the affected party.
Form Details:
- Released on June 1, 2019;
- The latest edition provided by the North Dakota Department of Agriculture;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form SFN7573 by clicking the link below or browse more documents and templates provided by the North Dakota Department of Agriculture.
