Fresh World One posts PACA cash surety agreement - The Packer

Fresh World One posts PACA cash surety agreement

07/24/2014 10:11:00 AM
Daniel Vanderhorst

Springfield, Va.-based Fresh World One Inc. has posted a $250,000 cash surety agreement with the U.S. Department of Agriculture, according to a USDA news release.

The company posted the bond under Perishable Agricultural Commodities Act rules that require a formerly bankrupt company to post a bond as part of obtaining a PACA license.

Fresh World One also paid a civil penalty of $37,500 for conducting operations subject to PACA rules without a PACA license.

The $250,000, to be held by USDA for three years, will provide assurance to the industry that the company will conduct business in accordance with PACA rules.

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