PRESIDENT’S MESSAGE
These rules are very important, and
I urge you to read them carefully.
Pleading ignorance is no defence, and
it will not give you your money owed.
company, while ensuring receipt of the proper documents
and demanding payment during eligibility periods.
In the event of a non-payment, they must report the
incident to the Canadian Grain Commission immediately.
Security doesn’t cover grain that is in condominium storage,
and delivery must be made to a licensed primary elevator,
process elevator, or grain dealer.
Farmers are eligible for compensation paid from the
licensed company’s security for a maximum of 90 days from
the date of grain delivery. If you wait longer than 90 days
to exchange your primary elevator receipt or grain receipt
for a cash purchase ticket or cheque, you are not eligible
for compensation.
Once you receive a cash purchase ticket or cheque,
you are eligible for compensation paid from the licensed
company’s security for 30 days from the date it was issued,
or until 90 days from the date of grain delivery. The lesser of
these two time periods applies.
If a licensed company gives you a post-dated cheque,
you are eligible for compensation paid from the company’s
security for 30 days from the date it was issued, regardless of
the date on the cheque. If you receive a post-dated cheque on
Oct. 1 dated Nov. 15, you are eligible for compensation paid
from the company’s security until Oct. 31.
These rules are very important, and I urge you to read
them carefully. Pleading ignorance is no defence, and it will
not give you your money owed.
Over 35 years ago, Ontario created its own Grain Financial
Protection Program. Licensing and inspections are done by
Agricorp, while the Grain Financial Protection Board looks
after claims and compensation matters. Grain is covered
by a check-off fund that is managed by the Grain Financial
Protection Board, and if a dealer becomes insolvent, a claim
can be made, and maximum coverage is paid based on the
length of the deferred payment arrangement.
There is the potential that a Canadian Grain Commission
surplus could be used to set up a similar fund in each province,
thereby protecting us from any defaults or bankruptcies
by those buying our commodities. The security safeguards
that the Canadian Grain Commission has in place are good
benchmarks to protect us, but with careful study and
consideration, there may be the potential to do more.
Our commodities are some of the best in the world, and
we deserve to be paid promptly. The work we do is valuable
and I for one am proud to do it. We just need to do what we
can to ensure there is a strong safety net when financial
circumstances outside of our operations have the ability to
affect us. FV
10 § Manitoba Farmers’ Voice § Fall 2019