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Producers indemnify WA Grain & Pulse Solutions for an average of 80% for eligible deliveries to The Canadian Business Journal

Winnipeg, Manitoba, March 9, 2022 (GLOBE NEWSWIRE) — Producers who do not receive payment for grain delivered to WA Grain & Pulse Solutions receive eligible claims through the Canadian Grain Commission’s Grain Farmer Program. Get an average of 80% compensation.

The Canadian Grain Commission, in addition to achieving the security possessed by the company, also through the sale of the company’s grain inventory. Bankruptcy and bankruptcy law.. A total of 126 producers who make eligible claims receive a total of approximately $ 5.6 million indemnity for unpaid deliveries.

The Canadian Grain Commission suspended the WA Grain & Pulse Solutions grain dealer license and five major elevator licenses on April 20, 2021. The company entered the receivership on April 26, 2021. The Canadian Grain Commission appreciates the patience of all affected producers.

Quote

“We are pleased to be able to help producers borrow money in this situation. The Canadian Grain Commission has defended producers in court and used the full power of the Canadian Corn Laws to reach qualified producers. Maximized rewards. Our aim is to return as much money as possible into the producer’s pocket, but if the company fails to meet its security obligations, the Canadian Grain Commission cannot guarantee full compensation. . “

Doug Corney
Chairman of the Canadian Grain Commission

Simple facts

  • The Canadian Grain Commission’s Grain Farmer Protection Program regulates grain companies to reduce the risk of payment failures to producers and support grain quality assurance systems.
  • As a condition of the license, the licensed grain company must bid collateral for unpaid grain liabilities to the Canadian Grain Commission as bonds, letters of credit, guarantees, or unpaid insurance. If the licensed company fails to meet its payment obligations, the Canadian Grain Commission will use the company’s security to indemnify qualified producers.
  • The Canadian Grain Commission works closely with grain companies facing financial difficulties, but it is the grain company’s duty to maintain adequate security. The safeguards of the Grain Farmer Program cannot guarantee full compensation for all unpaid producers.
  • If the licensee fails to meet its obligations, the producer is eligible for compensation within 90 days from the date of delivery of the grain or within 30 days from the date the cash purchase ticket or check is issued. The shorter of these two periods applies.

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contact address

Remi Gosselin
Communication manager
Canadian Grain Commission
204-983-2749
remi.gosselin@grainscanada.gc.ca

Canadian Grain Commission

The Canadian Grain Commission is a federal agency responsible for establishing and maintaining Canadian grain quality standards. The program ships grains that consistently meet contract specifications for quality, safety and quantity. The Canadian Grain Commission regulates the grain industry to protect producers’ rights and ensure the integrity of grain transactions.


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Producers indemnify WA Grain & Pulse Solutions for an average of 80% for eligible deliveries to The Canadian Business Journal

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