Do I need a Grain Warehouse License or a Grain Dealer License? A Grain Warehouse license is for a business that buys, sells and stores grain. A Grain Warehouse license can only be issued to a business that has grain bins and/or warehouses to store grain. A Grain Dealer license is for people who buy & sell grain
only and they have no ability to store or handle grain. A grain dealer buys grain from producer/owners, handles all monies from the sell of the grain and pays the producer/owner.
A Grain Warehouse license is needed for any grain facility that is buying and/or storing grain for anyone else, other than themselves. If you have a Federal Grain License you are exempt from this law. This license gives some protection to any grain owner who stores their grain commercially.
The following documents are required by law to obtain a Grain Warehouse License:
1. A completed application for license to operate a public grain warehouse. New application must be accompanied with a one hundred fifty dollar fee ($150.00). Renewal fee of license will be based on capacity. Renewal date is June 30 of each year.
2. An insurance agent must complete and return to this office a Certificate of Insurance on Stored Grain (Form GW-4). Grain must be insured for its full market value. This form must be sent to us from your insurance company via email or mail.
3. A Certified Financial Statement must be submitted. The financial statement must have a closing date within the last 6 months. We must receive the financial statement in pdf format from your CPA or RPA or as a bound copy.
4. The Certificate of Fact (GW/GD-3) must be completed and returned. This form must be signed by an authorized person and must be signed and stamped by a notary.
5. The Schedule of Charges for Storing and Handling Grain (GW-5) must be complete. After approval, the Schedule will be returned to you for posting.
6. After a sample copy is sent to this office and approved, a voided, #1, triplicate original of your scale ticket, purchase contract(s), and daily position record must be sent to this office to be kept on file.
7. Each applicant is required to have one form of surety. You may choose a Bond, Letter of Credit (LOC) or a Certificate of Deposit (CD)Enclosed are a Bond Form (GW-6), Letter of Credit Form (GW-7, and Certificate of Deposit (Form GW-8). Surety based on storage capacity of your facility determined by our Auditors.
After all the required items have been met, your Arkansas Grain Warehouse License will be issued.