PSC Issues Important Reminders for Grain Producers and Dealers
FOR IMMEDIATE RELEASE
PSC ISSUES IMPORTANT REMINDERS FOR
GRAIN PRODUCERS AND DEALERS
Lincoln, April 4, 2023—The Nebraska Public Service Commission
(PSC) is reminding grain producers and dealers of the importance of
familiarizing themselves with Nebraska’s Grain laws when it comes
to doing business with grain dealers.
It is of vital importance for a producer/seller to ensure they are
working with a grain dealer that is licensed to do business in the
state of Nebraska. If a producer sells grain to a grain dealer that is
not licensed in Nebraska, the producer will have no protections
under state law. A list of graindealers licensed in Nebraska can be
found on the Grain Department page of the PSC website.
“State Law requires grain dealers to hold a Nebraska license in
order to do business with producers/sellers from our state,” said
Commission Chair Dan Watermeier. “The license means the grain
dealer has posted a security bond with the PSC, providing protection
for the producer/seller.”
Under the Nebraska Grain Dealer Act if a producer/seller wants to
ensure their transactions with a grain dealer are covered by the grain
dealer’s security posted with the PSC, they must demand payment
within 15 days of completion of their contract with the dealer.
Producers/sellers who choose not to demand payment within 15
days after completion of their contract will be unsecured creditors
of that dealer and forfeit any protection from the grain dealer’s
security.
Commissioner Watermeier said, “By knowing the law, working with
only licensed grain dealers and demanding payment within the set
timeframe producers/sellers can save themselves time and money
should a grain dealer experience any issues.”
Information for producers/sellers, grain dealers and grain
warehouses can be found on the Grain Department page of the
PSC website.Questions can be emailed to < psc.grain@nebraska.gov
>. ###
Contact:
Deb Collins- Communications & Media Mgr.
(402) 471-0226
deb.collins@nebraska.gov
