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Grain and Livestock Escrow Accounts
It is becoming common practice for producers to sell grain or livestock and defer the income into the coming year.
While the event of a bankruptcy by one of the businesses you sell your commodities to may seem unlikely, the consequences could be severe. Should a bankruptcy occur you would be listed as an unsecured creditor and would be paid after all other creditors, if there are any funds left.
In the interests of our customers, Peoples State Bank has set up grain and livestock escrow accounts. The proceeds of your sale are placed in an escrow account for a specified (by you) period of time.
After that time has passed, we disburse your funds to you. Your money is deferred, safe, secure and you can get this agreement set up with a simple form.
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