Beef Cattle Financial Protection Program
Ontario's Beef Cattle Financial Protection Program provides financial protection to beef cattle sellers when a buyer defaults on payment.
Beef cattle sellers and buyers can be beef cattle producers, cooperatives or licensed dealers and their licensed agents.
Offered by Ontario Agricorp
Amount
A dealer making a claim in respect of a producer would be eligible to receive 95% of the claim the Board finds valid, with no payout for valid claims of $5K or less and a ceiling of $320K; a dealer claiming in respect of a Feeder or Breeder Co-operative would receive 95% of the valid claim (no payment on valid claims of $5K or less). The current payout is 85% of the valid claim, with no payout for valid claims of $5K or less and a ceiling of $125K.
Quick eligibility check
Who can apply
Beef cattle sellers and buyers can be beef cattle producers, cooperatives or licensed dealers and their licensed agents.
Under the Protecting Farmers from Non-Payment Act, all dealers must have an active licence in order to conduct business. A licensed dealer requires the written consent of the Director to allow a third party, such as an agent, to use the dealers' licence. Licensed dealers can include:
Packing plant operators
Abattoir operators
Auction market operators
Fair operators
Exhibition operators
Country dealers
About the funding
Ontario's Beef Cattle Financial Protection Program provides financial protection to beef cattle sellers when a buyer defaults on payment.
Increase payout for dealers: A dealer Finance.
making a claim in respect of a Feeder or Breeder Co-operative would be eligible to • Additional grounds to reject a claim: receive 95% of the valid claim (no payment Discretionary grounds for refusing a claim will on valid claims of 5k or less). A dealer making be expanded to include not paying check-off a claim in respect of a producer (that is not fees, not having a written agreement in place, a Feeder or Breeder Co-operative) will be and where the claimant knew that the buyer eligible to receive 95% of the claim that the ceased carrying on business or was insolvent, Board found to be valid, with no payout for but did not promptly notify the Director. valid claims $5K or less and with a ceiling of $320k. Current payout is 85% of the claim that the Board finds to be valid, with no payout for valid claims $5K or less and with a ceiling of $125K.
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