P&SP 2000 Bond

Instructions to Complete
Bond Form
Form P&SP-2000
When you, as a packer, market agency or dealer (also referred to as the Principal), apply for a surety bond to meet
the bonding requirements of the Packers and Stockyards Program, you must provide form P&SP-2000 to the surety
for execution of the bond to cover your operation with the Packers and Stockyards Program.
A bond requires complete and correct information to be submitted to the Packers and Stockyards Program on form
P&SP-2000. If any information is missing or incorrect, the Packers and Stockyards Program will return the bond
form to the principal or surety for completion or correction.
Operating without proper registration and bond may subject the principal to severe penalties under law, including a
fine of not more than $11,000 for each violation.
Mail two fully executed bond forms to the regional office of the Packers and Stockyards Program as listed below.
The states covered by each regional office are listed below its address.
Regional Offices of the Packers and Stockyards Program
Grain Inspection, Packers and Stockyards Administration
Eastern Regional Office
Western Regional Office
Midwestern Regional Office
Suite 230
3950 Lewiston St., Suite 200
Room 317
75 Spring Street
Aurora, CO 80011-1556
210 Walnut Street
Atlanta, GA 30303-3308
Telephone: (303) 375-4240
Des Moines, IA 50309-2110
Telephone: (404) 562-5840
FAX: (303) 371-4609
Telephone: (515) 323-2579
FAX: (404) 562-5848
E-mail:
FAX: (515) 323-2590
[email protected]
E-mail: [email protected]
E-mail: [email protected]
States Covered
States Covered
States Covered
AL, AR, CT, DC, DE, FL, GA, LA, AK, AZ, CA, CO, HI, ID, KS, MT, IA, IL, IN, KY, OH, MI, MO, MN,
MA, MD, ME, MS, NC, NH, NJ,
NM, NV, OK, OR, TX, UT, WA,
ND, NE, SD, WI
NY, PA, RI, SC, TN, VA, VT, WV
WY
If you have any questions about the form or completing the form, please contact the regional office of the Packers
and Stockyards Program that covers your state, as listed above.
The Surety must complete lines 1 through 6, sign line 7(b), and complete lines 8 and 9.
The Principal must sign line 7(a).
If the bond names a trustee, the trustee must sign line 7(c).
Line
No.
1

Subject

Instruction

Bond Number

Enter the bond number assigned by the surety.

P&SP-2000-i

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Line
No.
2

3

4

Subject

Instruction

Principal Name and Address
(Street, City, State, Zip)

Enter the full name and mailing address of the principal. The
principal’s name must match the name under which the principal
is registered with the Packers and Stockyards Program. (Contact
the Regional Office that covers your state as listed above, if you
need this information.)

Surety Name, Address and Phone
No. (Street, City, State, Zip,
Phone No.)
Trustee, If Required (Street, City,
State, Zip, Phone No.)

Examples how John Doe might be registered include:
 John Doe
 John Doe Livestock, Inc.
 John Doe Livestock Co., L.L.C.
 John Doe d.b.a. John Doe Livestock Company.
 John Doe and Sam Doe d.b.a. Doe Livestock, or
 John Doe and Sam Doe.
Enter the full name, mailing address, and telephone number of the
surety.
If a trustee is required on the bond, list the trustee’s full name,
address, and telephone number of the trustee. If a trustee is not
required, leave line 4 blank.
Some States require that a State agency or official be named as
trustee.

5

Amount of Bond

NOTE: See separate Trustee Information Sheet for descriptions of
suitable trustees and for information about State required trustees.
Enter the full dollar amount of the bond; spell out the amount and
provide the amount numerically. For example, if the full dollar
amount of the bond is $10,000, list the amount as follows:
Ten Thousand Dollars and No/100

6

Conditions

$10.000.00

Line 6 defines the conditions that are applicable for livestock
operations. If condition 3 applies, enter the registrant(s) name(s)
to be listed as clearee(s) under this bond in the space available in
the definition for condition 3.
Examples of each of the conditions are:
Condition 1 - The principal sells livestock for the account of
others.
Condition 2 - The principal buys livestock for his/her own
account or for the accounts of others.
Condition 3 - The principal is providing bond coverage for other
registrant(s), as clearee(s), and therefore is responsible for the
obligations of the clearee(s).
Condition 4 - The principal is purchasing livestock for purposes
of slaughter, for his/her own account as a packer

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Line
No.
6a

Subject

Instruction

Conditions Not Applicable to
Principal’s Operation.

On line 6a enter the conditions that are NOT applicable to the
principal’s livestock operations. Based on the principal’s
operation, enter one of the following combinations of conditions
to exclude from the bond:


7 (a, b,
& c)

Signatures

Enter 2, 3 and 4 if the principal will be operating as a
market agency selling on commission.
 Enter 1, 3 and 4 if the principal will be operating as a
dealer buying and selling for his or her own account or as
a market agency buying on commission.
 Enter 1 and 4 if the principal will be operating as a dealer
and/or market agency buying on commission and a
clearing agency responsible for the financial obligations
of other registrants.
 Enter 1, 2 and 4 if the principal is operating solely as a
clearing agency responsible for the financial obligations
of other registrants.
 Enter 1, 2 and 3 if the principal is operating as a packer.
a) PRINCIPAL’S SIGNATURE: The principal, or someone
authorized to sign for the principal (i.e. partner, owner, or officer),
must sign the bond.




If an individual operation, the principal must sign the
bond.
If a partnership operation, one of the partners must sign
the bond.
If a corporation, limited liability corporation, limited
liability partnership, or association, an owner, officer or
duly authorized agent of the firm must sign the bond.

b) SURETY’S SIGNATURE: The attorney-in-fact for the surety
company must sign.

8

Date Effective

9

Attach Power of Attorney

P&SP-2000-i

c) TRUSTEE’S SIGNATURE: If a trustee is named, the trustee
must also sign, where indicated on the form.
Enter the effective date of the bond.
A Power of Attorney must be attached to the bond. The date of
the Power of Attorney must be equal to or prior to the effective
date of the bond. The individual signing the bond must be listed
on the attached Power of Attorney.

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OMB No. 0580-0015

U.S. DEPARTMENT OF AGRICULTURE
GRAIN INSPECTION, PACKERS AND
STOCKYARDS ADMINISTRATION
PACKERS AND STOCKYARDS PROGRAM

Expires xx/xx/20xx

BOND
REQUIRED OF LIVESTOCK MARKET AGENCIES, DEALERS, AND
PACKERS

Subject to the Packers And Stockyards Act, 1921, as Amended and Supplemented

1. Bond Number __________________________
2. Principal Name, Address, and Phone Number

3. Surety Name, Address, and Phone Number

4. Trustee (List if required by State, Principal, or Surety) and Phone Number

5. Amount of Bond (Spell out dollar amount)

Dollar Amount
$

6. The Condition of this Bond is such that:
Applicable if Principal SELLS on commission

(1) If Principal shall pay when due to the person or persons entitled thereto the gross
amount, less lawful charges, for which all livestock is sold for the accounts of others
by Principal,

Applicable if Principal BUYS on commission or as a
dealer

(2) If Principal shall pay when due to the person or persons entitled thereto the
purchase price of all livestock purchased by Principal for his/her own account or for
the accounts of others, and if Principal safely keeps and properly disburses all funds, if
any, which come into his/her hands for the purpose of paying for livestock purchased
for the accounts of others,

Applicable if others CLEAR through Principal

(3) If Principal, acting as a clearing agency responsible for the financial obligations of
other registrants engaged in buying livestock, hereinafter referred to as “clearees,”
including:

or if Principal’s clearees shall (1) pay when due to the person or persons entitled
thereto the purchase price of all livestock purchased by Principal’s clearees for their
own accounts or for the accounts of others and (2) safely keep and properly disburse
all funds coming into the hands of Principal or Principal’s clearees for the purpose of
paying for livestock purchased for the accounts of others,
Applicable if Principal BUYS as a Packer

(4) If Principal shall pay when due to the person or persons entitled thereto the
purchase price of all livestock purchased for purposes of slaughter by Principal for
his/her own account,

then this bond shall be null and void, otherwise to remain in full force, subject to the following terms, conditions, and limitations:
(a)
(b)
(c)
(d)

Conditions __________, __________, and __________ were deleted prior to execution and are not part of the bond.
This bond shall apply only to transactions occurring on or at any time after the date hereof, and before the effective date of
termination hereof as hereinafter provided.
Payment by Surety to a claimant or to Trustee in settlement of one or more claims shall discharge Surety as to those claims and
shall reduce the penal sum of this bond to the extent of such payment or payments.
Any person damaged by failure of Principal to comply with any condition clause of this bond may maintain suit in his or her
own name to recover on this bond even though such person is not a party named in this bond. Trustee may maintain suit in his
or her own name, the recovery to be made for the use of the persons damaged. Principal and Surety hereby waive every defense,
if any, based on the fact that any person damaged or in whose name a suit shall be brought, is not a party or privy to this bond.

Form P&SP-2000

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(e)

Any claim for recovery on this bond must be filed in writing with either Surety, Trustee if one is named, or the Administrator,
Packers and Stockyards Program, Grain Inspection, Packers and Stockyards Administration, United States Department of
Agriculture, and whichever of these parties receives such a claim shall notify the other such party or parties at the earliest
practicable date. All claims must be filed within 60 days of the date of the transaction on which the claim is based. Suit thereon
shall not be commenced in less than 120 days or more than 547 days from the date of the transaction on which the claim is
based.
(f) The Packers and Stockyards Program, Grain Inspection, Packers and Stockyards Administration, United States Department of
Agriculture, is authorized to designate a trustee to represent all claimants under this bond if (1) any claim is filed or any action is
required to recover damages for breach of any condition of this bond, and if (2) a trustee is not designated herein or Trustee
designated herein fails or is unable to act or serve.
(g) Surety shall not be liable to pay any claim for recovery on this bond if it is not filed in writing within 60 days from the date of
the transaction on which the claim is based, or if suit thereon is commenced less than 120 or more than 547 days from the date of
the transaction on which the claim is based.
(h) The proceeds of this bond shall not be used to pay fees, salaries, or expenses for legal representation of Surety or Principal.
(i) The term “person” as used in this bond shall be construed to mean and include both singular and plural, corporations,
partnerships, associations, individuals, and the heirs, executors, administrators, successors, or assigns thereof.
(j) The acts, omissions or failures of authorized agents or representatives of Principal or persons whom Principal shall knowingly
permit to represent themselves as acting for Principal shall be taken and construed to be the acts, omissions, or failures of
Principal and to be within the protection of this bond to the same extent and in the same manner as if they were the personal acts
of Principal.
(k) Termination of the clearing services for a registrant under condition clause three (3) of this bond may be accomplished by
issuance of a rider or endorsement by Surety named herein deleting the name of the registrant as a clearee. Termination of the
clearing services shall become effective thirty (30) days after the date of receipt of the rider or endorsement by the Packers and
Stockyards Program.
(l) This bond may be terminated by either party hereto delivering written notice of termination to the other party and the Packers
and Stockyards Program at least thirty (30) days prior to the effective date of such termination. (In the event that Surety
named herein writes a new bond to replace this bond for the same Principal, the thirty (30) day termination will be
waived, and this bond will terminate as of the effective date of the replacement bond.) Immediately upon filing of a claim
for recovery on this bond, unless Surety believes that such claim is frivolous, Surety shall cause termination of this bond in
accordance with this paragraph.
(m) A fully executed duplicate of this bond and of any endorsement, amendment, rider, or other attachment hereto, shall be filed with
the Regional Director, Packers and Stockyards Program, for the area in which Principal resides or has his, her, or its principal
place of business.

7. Signatures
A. Principal's Signature

Name & Title

B. Surety's Signature

Name & Title

C. Trustee's Signature

Name & Title

8. Date Effective

9. Attach Power Of Attorney

An adequate bond and registration is required in order to operate as a market agency or dealer as defined in Section 301 or packer as defined in
section 201 of the Packers and Stockyards Act, 1921, as amended and supplemented (7 U.S.C. 201 and 7 U.S.C. 191, respectively) and
9 CFR 201.29. Information held confidential (9 CFR 201.96).
According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not required to respond to, a collection
of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is 0580-0015. The
time required to complete this information collection is estimated to average 2 hours 15 minutes per response, including the time for reviewing
instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of
information.
Form P&SP-2000
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The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin,
age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, genetic information, political
beliefs, reprisal, or because all or part of an individual’s income is derived from any public assistance program. (Not all prohibited bases apply to
all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape,
etc.) should contact USDA’s TARGET Center at (202) 720-2600 (voice and TDD). To file a complaint of discrimination, write to USDA,
Director, Office of Civil Rights, 1400 Independence Avenue, S.W., Washington, D.C. 20250-9410, or call (800) 795-3272 (voice) or (202) 7206382 (TDD). USDA is an equal opportunity provider and employer.

Form P&SP-2000

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