Making a Claim

Sellers making a claim must apply to the Livestock Financial Protection Board within 30 days of the day of sale.

Sellers may also make a claim if a dealer has ceased operation or if a dealer's assets were placed under a trustee or receiver.

Day of sale can be:

  • Day of weighing, where price is determined on a live weight basis;
  • Day of grading, where price is determined on a carcass grade basis; or
  • Day of purchase, where price is determined on a per head basis.

Payment can be made by cheque, direct deposit, electronic transfer or any other kind of transfer agreed to by the seller and the buyer.

Sales to Producers

Sales to producers are also covered where a licenced dealer sells to a producer who defaults on payment. In these cases, compensation is 85 per cent, up to a maximum of $125,000. There will be no compensation for claims less than $5,000.

Becoming a Licenced Dealer

All dealers are licensed by the Ontario Ministry of Agriculture, Food and Rural Affairs.

Dealer applications, along with financial statements, are reviewed by the Ministry before the licence is granted.

A dealer who fails to make prompt payment, defaults on payment or issues an NSF cheque may lose their licence.

Payment can be made by cheque, direct deposit, electronic transfer or any other kind of transfer agreed to by the seller and the buyer.

Sellers - Protect Yourselves

Always deal with a licenced dealer. When in doubt, ask to see the licence or check here for a current list of licenced dealers. Sales to an unlicenced dealer are not covered by the Ontario Beef Cattle Financial Protection Program.

Do not extend credit to a dealer. This means that you should never ship another load of cattle once payment for a previous load is overdue.

Notify Agricorp if you do not receive payment on time.

File your claim with the Livestock Financial Protection Board no later than 30 days after the day of sale.