WASHINGTON, D.C. - According to a U.S. Department of Agriculture (USDA), press release, Harrison, NY-based company Porto Pavion LLC, has posted a $50,000 surety bond in order to obtain a license to operate in the produce industry.
Under the regulations of the Perishable Agricultural Commodities Act (PACA), the company was required to post a bond following its principal’s previous involvement in bankruptcy.
USDA will hold the bond for three years, providing assurance to the industry that the company will be able to pay for produce purchased and to conduct business according to PACA rules.
In the past three years, USDA resolved approximately 3,700 PACA claims involving more than $66 million. Its experts also assisted more than 7,100 callers with issues valued at approximately $100 million. These are just two examples of how USDA continues to support the fruit and vegetable industry.
