Government of Ontario, Ministry of Agriculture, Food and Rural Affairs and Agricorp – Ontario Beef Cattle Financial Protection Program (2022)

Description:

Ontario’s Beef Cattle Financial Protection Program provides financial protection to beef cattle sellers when a licensed dealer defaults on payment.

Comments on Funding:

Two types of claims can be made against the fund:

  1. Cattle sellers may make a claim if a licensed dealer defaults on payment. Compensation is 95% on approved claims.
  2. Licensed dealers may make a claim if a producer defaults on payment. Compensation is 85%, up to a maximum of $125,000. 

There is no compensation for claims less than $5,000.

Eligibility:

Sellers can be:

  • beef producers;
  •  licenced dealers; or
  • auction markets.

Dealers include:

  • packing plant operators;
  • abattoir operators;
  • auction market operators;
  • country dealers. 

All dealers must be licensed by the Ontario Ministry of Agriculture, Food and Rural Affairs.

Applications Steps:

Applicant must:

For information on how to obtain a dealer license or make a claim, contact Agricorp at 1-888-247-4999.

Payment Deadlines

Sellers making a claim must apply to the Livestock Financial Protection Board within 30 days of the day of sale. Sellers may also make a claim if a dealer has ceased operation or if a dealer’s assets were placed under a trustee or receiver.

Other Things to Note:

The Livestock Financial Protection Board (LFPB) manages the fund and determines if a claim should be paid.

Agricorp supports the ministry in licensing dealers, collects the check-off fees and supports the LFPB.

The Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) manages program policy, licensing decisions, investigations and enforcement.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *