WASHINGTON - Miami, Florida-based A & B Tropical Produce LLC posted a $75,000 surety bond under PACA regulations.
The bond was posted with the USDA to employ Marcos Rodas Woo, previously named in a PACA action, according to a USDA press release. Woo was the only member and manager of World Best Tropical LLC, a Doral, Florida-based company that reportedly failed to pay reparation awards issued against it under PACA.
USDA will hold the $75,000 bond for four years, providing assurance to the industry that the company will be able to pay for produce purchased and to conduct its business according to PACA rules.
Any PACA licensee wishing to employ individuals who have failed to pay a reparation award, or have been subject to a USDA disciplinary action, must post a USDA-approved surety bond.
In the past three years, the USDA resolved approximately 4,250 PACA claims involving more than $77 million.
