Dealer, Market Agency Buying on Commission, and Clearing Agency

Dealer, Market Agency Buying on Commission, and Clearing Agency Responsibilities

Regulated Entities Listing

  • PDF (November 2, 2017) (PDF; 1.8 Mb)
  • XLSX (November 2, 2017) (Excel: XLSX; 223Kb)

Note: These lists include certain regulated entities subject to the Packers and Stockyards Act - those that are required to maintain a bond (market agencies, dealers, and packers) and those subject to the statutory trust provisions (bonded packers and live poultry dealers). The lists and bond amounts are current as of the date listed on the linked file. Once you open a file you can use the "Find" option under the "Edit" menu to locate specific regulated entities. The listed business addresses are most often mailing addresses. Please contact a Packers and Stockyards Program (P&SP) regional office with any questions concerning these lists.

Market Agency Buying on Commission, Dealer, and Clearing Agency Responsibilities

The following are some basic responsibilities for dealers, market agencies buying on commission, and clearing agencies. Packers and Stockyards Act, 1921, as Amended and Supplemented, and the Regulations issued there under, for a complete list of legal responsibilities.

Registration

Every person operating or desiring to operate as a dealer, market agency buying on commission, or clearing agency, must apply for registration under the Act.

To file for registration you would need to complete form:

  • P&SP-1000 (PDF; 27Kb) - Application for Registration.

Bonds

Every dealer, market agency buying on commission, and clearing agency must execute and maintain a reasonable bond, to secure their obligations to livestock sellers.

Prompt Payment

Every dealer, market agency buying on commission, and clearing agency purchasing livestock must deliver the full amount of the purchase price to the seller. Payment for the livestock is due before the close of the next business day following the purchase and transfer of possession.”

Scales

All scales used by those subject to the Act to weigh livestock, livestock carcasses, or feed for the purposes of purchase, sale, acquisition, payment, or settlement, must be installed, maintained, and operated to ensure accurate weights, in accordance with the applicable requirements in the National Institute of Standards and Technology (NIST) Handbook 44, "Specifications, Tolerances, and Other Technical Requirements for Weighing and Measuring Devices." All such scales must be tested for accuracy by a competent agency at least twice during each calendar year-once between January 1 and June 30 and once between July 1 and December 31. You must have a minimum of 120 days between these two tests. Except that if you use such scales on a limited seasonal basis (during any continuous 8-month period) for purposes of purchase, sale, acquisition, payment or settlement, you may use such scales within an 8-month period following each test. The certification form must be filed with the regional P&SP office. Such scales must be equipped with a printing device which will record weight values on a scale ticket or other document. Any scale known to be inaccurate may not be used.

Weighing

Only competent, trained weighmasters should weigh livestock. All weighmasters must read and sign an Acknowledgment Form certifying that they have read the Instructions for Weighing Livestock or Poultry. The weighmaster should ensure that the scale will provide accurate weights prior to weighing. The weighmaster should keep the scale balanced at zero at all times; check the zero balance every 15 minutes or 15 drafts, and after every draft of more that half the scale capacity; record the time of zero balance check; and weigh each draft of livestock to the nearest scale division. The weighmaster should favor neither the buyer nor the seller; print a scale ticket only while livestock is on scale and scale has settled; complete the scale ticket; allow persons having a legitimate interest in a draft of livestock to observe the weighing; and reweigh a draft of livestock immediately if requested.

Records

Every dealer, market agency buying on commission, and clearing agency must keep the accounts, records, and memoranda necessary to fully and correctly disclose all transactions involved in his/her business. This includes the true ownership of the business.

Annual Reports

Every dealer, market agency buying on commission, and clearing agency must file an annual report with P&SP.

Each of these entities will complete and file formP&SP-3001 on a yearly basis.

(PDF; 72Kb)

Inspection of Business Records and Facilities

Each dealer, market agency buying on commission, and clearing agency, upon proper request, must permit authorized representatives of the Secretary of Agriculture to enter its place of business during normal business hours and to examine records pertaining to its business subject to the Act.

Resources