Farms.com Home   News

Producers to be Compensated for Unpaid Grain Deliveries to Zeghers Seed

Farmers who were not paid for grain delivered to Zeghers Seed Inc will receive over $1.2 million in compensation, the Canadian Grain Commission (CGC) said Thursday. 

Following a review of individual producer claims, the CGC determined that there were 27 eligible claims for unpaid deliveries. Producers will receive 100% compensation for the eligible claims, the IGC said, with the money coming from the company’s posted security. 

Holland, MB-based Zeghers had its primary elevator and grain dealer licences revoked by the CGC back in March. 

As a condition of licensing, grain companies must tender security for outstanding grain liabilities to producers to the CGC as a bond, letter of credit, letter of guarantee, or payables insurance. If a licensed company does not meet its payment obligations, the CGC uses the company’s security to compensate eligible producers. 

If a licensee fails to meet its obligations, producers are eligible for compensation within 90 days from the date of their grain delivery or within 30 days from the date a cash purchase ticket or cheque was issued to them. 

Source : Syngenta.ca

Trending Video

White Mold in Soybeans

Video: White Mold in Soybeans

Nebraska Extension Plant Pathologists say conditions this year are primed for white mold. Fields with a history of the disease are at even greater risk. Extension Plant Pathologist Dylan Mangel talks about white mold pressure this season and what steps you can take to protect your yield.