WASHINGTON, July 24, 2014 – Fresh World One Inc., operating in Springfield, Va., has posted a $250,000 cash surety agreement with the U.S. Department of Agriculture (USDA).
The company posted the cash surety agreement to obtain a license to operate in the produce industry following bankruptcy. The company also paid a civil penalty of $37,500 for conducting operations subject to Perishable Agricultural Commodities Act (PACA) without a PACA license.
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.
The Agricultural Marketing Service, (AMS), PACA Division, regulates fair trading practices of produce businesses operating subject to PACA, which includes buyers, sellers, commission merchants, dealers and brokers within the fruit and vegetable industry. All oversight of actions related to PACA are conducted by AMS, an agency within USDA.
In the past three years, USDA resolved approximately 4,600 claims filed under PACA involving more than $87 million. This is just one more way USDA continues to support the fruit and vegetable industry.
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