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Registered and Bonded Market Agencies Buying on Commission and Dealers

Buys and Sells livestock either on its own account or as the employee or agent of the vendor or purchaser.

Regulated Entities Listing

  • PDF (December 2012) (1115Kb)
  • XLS (December 2012) (731Kb)

Note: These lists include certain regulated entities subject to the Packers and Stockyards Act - those that are required to maintain a bond (market agencies, dealers, and packers) and those subject to the statutory trust provisions (bonded packers and live poultry dealers). The lists and bond amounts are current as of the date listed on the linked file. Once you open a file you can use the "Find" option under the "Edit" menu to locate specific regulated entities. The listed business addresses are most often mailing addresses. Please contact a Packers and Stockyards Program (P&SP) regional office with any questions concerning these lists.

Market Agency Buying on Commission, Dealer, and Clearing Agency Responsibilities

The following are some basic responsibilities for market agencies buying on commission, dealers, and clearing agencies. Please refer to the Packers and Stockyards Act, 1921, as Amended and Supplemented, and the Regulations issued there under, for a complete list of legal responsibilities.

Registration

Every person operating or desiring to operate as a market agency, clearing agency, or dealer shall apply for registration under the Act.

To file for registration you would need to complete form:

  • P&SP-1000 (PDF; 27Kb) - Application for Registration.

Bonds

Every market agency, clearing agency, and dealer shall execute and maintain a reasonable bond, as a measure of protection for livestock sellers. The size of the bond is based on the volume of business, generally an average of two days business with a minimum of $10,000 bond. Market Agencies Buying on Commission and/or Dealers will need to file a clause 2 bond or bond equivalent. Clearing Agencies will need to file a clause 3 bond or bond equivalent.

Prompt Payment

Each market agency, clearing agency, or dealer, purchasing livestock shall, before the close of the next business day following the purchase of livestock and transfer of possession thereof, deliver to the seller the full amount of the purchase price. The parties to a transaction may agree in writing prior to the transaction to effect payment in a manner other than previously described.

Scales

All scales used by those subject to the Act to weigh livestock, livestock carcasses, or feed for the purposes of purchase, sale, acquisition, payment, or settlement, must be installed, maintained, and operated to ensure accurate weights, in accordance with the applicable requirements in the National Institute of Standards and Technology (NIST) Handbook 44, "Specifications, Tolerances, and Other Technical Requirements for Weighing and Measuring Devices." All such scales must be tested for accuracy by a competent agency at least twice during each calendar year-once between January 1 and June 30 and once between July 1 and December 31. You must have a minimum of 120 days between these two tests. Except that if you use such scales on a limited seasonal basis (during any continuous 8-month period) for purposes of purchase, sale, acquisition, payment or settlement, you may use such scales within an 8-month period following each test. The certification form must be filed with the regional P&SP office. Such scales must be equipped with a printing device which will record weight values on a scale ticket or other document. Any scale known to be inaccurate may not be used.

Weighing

Only competent, trained weighmasters should weigh livestock. All weighmasters must read and sign an Acknowledgment Form certifying that they have read the Instructions for Weighing Livestock or Poultry. The weighmaster should ensure that the scale will provide accurate weights prior to weighing. The weighmaster should keep the scale balanced at zero at all times; check the zero balance every 15 minutes or 15 drafts, and after every draft of more that half the scale capacity; record the time of zero balance check; and weigh each draft of livestock to the nearest scale division. The weighmaster should favor neither the buyer nor the seller; print a scale ticket only while livestock is on scale and scale has settled; complete the scale ticket; allow persons having a legitimate interest in a draft of livestock to observe the weighing; and reweigh a draft of livestock immediately if requested.

Records

Every market agency, clearing agency, and dealer shall keep such accounts, records, and memoranda as fully and correctly disclose all transactions involved in his/her business, including the true ownership of such business. The records must by maintained for two full years, or longer if instructed by the Administrator.

Annual Reports

Every market agency, clearing agency, and dealer shall file an annual report with P&SP. A Market Agency Buying on Commission, Dealer, or Market Agency operating as a Clearing Agency will complete and file form P&SP-3001 (PDF; 72Kb) on a yearly basis.

Inspection of Business Records and Facilities

Each market agency, clearing agency, and dealer, upon proper request, shall permit authorized representatives of the Secretary of Agriculture to enter its place of business during normal business hours and to examine records pertaining to its business subject to the Act.

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