Commodity Dealers Licensing
The commodity dealer licensing period is for one year, January 1 through December 31.
Commodity dealers have two classes of licenses. Class 1 is if the commodity dealer purchases agricultural commodities by credit-sale contract or if the value during the past 12 months exceeds $250,000. Class 2 is if the commodity dealer's purchases of agricultural commodities during the past 12 months exceeds $10,000, and is less than $250,000.
The original licensing fees for a commodity dealer are based on the class type. Class 1 is $360, class 2 is $180.
The license renewal fees for a commodity dealer are also based on the class type. Class 1 is $65, class 2 is $35. A license which has expired may be reinstated for a fee of $500 plus the renewal fee if filed within 30 days of expiration. Applications received after the 30 day reinstatement period shall be considered original applications and the license fee will be the original license fee along with the $500 reinstatement fee.
Licensing requirements for a commodity dealer are:
1. Commodity Dealer License Application.pdf,
2. Applicable fees (listed above),
3. Commodity Dealer Bond.pdf or irrevocable letter of credit or certificate of deposit,
4. An audited or reviewed financial statement prepared in accordance to GAAP.
Other Forms Related to Licensing as a Commodity Dealer:
Forms, Reports & Publications.
If you wish to also purchase seed from Idaho producers, you can do so by acquiring a commodity dealer/seed buyer bond.pdf and license as a seed buyer.
To inquire as to whether or not a commodity dealer is licensed, please contact us at (208) 332-8660