Grain Financial Protection Program

Overview of the Grain Financial Protection Program program:

The Grain Financial Protection Program (GFPP) is a program administered by Agricorp, designed to protect grain producers and owners in Ontario from financial losses due to the bankruptcy of licensed dealers or elevators. This program ensures that farmers and other grain owners are compensated if a licensed dealer or elevator defaults on payment. The program is crucial in providing financial security to grain producers, helping them mitigate risks associated with the sale and storage of their products.

Benefits of the Grain Financial Protection Program program:

• Financial Security: The program offers protection to grain producers and owners against financial losses caused by the insolvency of licensed dealers and elevators.
• Risk Mitigation: By participating in the program, grain producers can conduct business with greater confidence, knowing they are protected against certain financial risks.
• Compensation: In the event of a default, eligible participants can receive compensation, ensuring business continuity.

Eligibility criteria of the Grain Financial Protection Program program:

• Participants: Grain producers and owners in Ontario who deal with licensed grain dealers or store their grain in licensed elevators.
• Licensed Dealers/Elevators: The program specifically covers transactions with dealers and elevators that are licensed under the Ontario Grains Act.