Protecting the Vulnerable from Food Stamp-Related Loss
The U.S. Department of Agriculture (USDA) created the Supplemental Nutrition Assistance Program (SNAP) previously known as the Food Stamp Program to assist no-income, or low-income Americans meet their nutritional needs. Surety1 is proud to be a business member of this great country, and we feel it is our duty to help feed Americans. We are pleased to provide you with assistance with a Food Stamp Surety Bond so you can offer this program to your customers.
What is a Food Stamp Surety Bond and why do I need one?
The Food Stamp Surety Bond is required by The U.S. Department of Agriculture (USDA) Division of Food and Nutrition Services. It ensures that the USDA will receive payment from a retailer who participates in the Supplemental Nutrition Assistance Program through the distribution of food stamps. This bond guarantees that the USDA will be able to collect payments from any retailer who has had a violation that results in collection on the part of the USDA. A Food Stamp Surety Bond is only required for retail food businesses during the first year of business.
How do I get a Food Stamp Surety Bond and how much does it cost?
Surety1 has made the process easy with our online application. The USDA requires a minimum bond amount of $1,000 or 10% of your average monthly coupon redemption volume in a 12 month period.
Simply fill out our online form, and we’ll get back to you quickly with a quote. Surety1 will help you determine the coverage you need and place your bond with one of our valued partners. Contact us if you have any questions about this type of bond or the coverage you need.