Tennessee Firm Posts $400,000 Surety Bond to Obtain PACA License

Date
Monday, November 23, 2020 - 4:30pm
Contact Info
Release No.
193-20

WASHINGTON, Nov. 23, 2020 – Legendary Baking I LLC, trading as J. Horners, operating out of Nashville, Tenn., has posted a $400,000 surety bond with the U.S. Department of Agriculture (USDA).

Under the regulations of the Perishable Agricultural Commodities Act (PACA), the company was required to post the bond following its prior involvement in bankruptcy. The company posted the bond as a prerequisite to obtain a new license to operate in the produce industry.

USDA will hold the bond for three years and nine months, providing assurance to the industry that the company will be able to pay for produce purchased and to conduct business according to PACA rules.

For further information, contact Corey Elliott, Chief, Investigative Enforcement Branch, at (202) 720-6873 or PACAInvestigations@usda.gov.

The PACA Division, which is in the Fair Trade Practices Program in the Agricultural Marketing Service, regulates fair trading practices of produce businesses that are operating subject to PACA, including buyers, sellers, commission merchants, dealers and brokers within the fruit and vegetable industry. In the past three years, USDA resolved approximately 3,625 PACA claims involving more than $104 million. PACA staff also assisted more than 7,600 callers with issues valued at approximately $166 million. These are just two examples of how USDA continues to support the fruit and vegetable industry.

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