Canadian Grain Commission concludes Payment Protection Program review for Mustard Capital
WINNIPEG, April 23, 2012 /PRNewswire/ – Producers who did not receive payment
for grain sold to Mustard Capital have received full compensation for
their eligible claims through the Canadian Grain Commission’s Payment
Mustard Capital was a licensed grain dealer located in Gravelbourg,
Saskatchewan, until February 1, 2012.
“Canadian grain producers have the freedom to do business with a grain
elevator or dealer of their choice. When producers choose to deal with
a company licensed by the Canadian Grain Commission, they are covered
by the Payment Protection Program. In the case of Mustard Capital,
producers who were not paid for their deliveries 90 days prior to the
company not being licensed, had the right to submit a claim for
compensation,” said Elwin Hermanson, Chief Commissioner for the
Canadian Grain Commission.
Rules for compensation
In the case of Mustard Capital, eligible producers received 100%
compensation for the amount they were owed. The Canadian Grain
Commission reminds producers, that they must follow and meet certain
rules to qualify for compensation under the Payment Protection Program.
Producers are only covered by a licensed company’s security for 90 days
from the date they delivered their grain, or 30 days from the date they
received a cash purchase ticket. The shorter of the two time periods
About the Canadian Grain Commission
The Canadian Grain Commission is the federal agency responsible for
establishing and maintaining Canada’s grain quality standards. Its
programs result in shipments of grain that consistently meet contract
specifications for quality, safety and quantity. The Canadian Grain
Commission regulates the grain industry to protect producers’ rights
and ensure the integrity of grain transactions.
-- Licensed companies -- Manage the risk of not getting paid -- Make a payment claim
SOURCE Canadian Grain Commission