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NOTICE OF INTENT TO PRESERVE TRUST BENEFITS

NOTICE OF INTENT TO PRESERVE TRUST BENEFITS 2026

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The document is a Notice of Intent to Preserve Trust Benefits under the Perishable Agricultural Commodities Act (PACA), indicating that the Seller intends to maintain rights to trust benefits for unpaid invoices related to perishable agricultural commodities. It outlines the Seller's status as a beneficiary in a statutory trust and emphasizes the Debtor's obligation to protect trust assets until all sellers are fully paid, warning that any dissipation of these assets is unlawful.

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Click ‘Get Form’ to open the NOTICE OF INTENT TO PRESERVE TRUST BENEFITS in the editor.
Begin by filling in the 'TO' and 'FROM' sections with the appropriate names and addresses. Ensure accuracy as this information is crucial for legal purposes.
In the section labeled 'Seller', enter your name or business name, clearly indicating your intent to preserve trust benefits under PACA.
Provide details about the Debtor, including their full address and fax number. This ensures that all parties are correctly identified.
Describe the produce sold, including dates, prices, and total amounts due. Attach any relevant invoices as Exhibit A for reference.
Review the statutory trust information provided in the document to ensure you understand your rights and obligations under PACA.
Complete the 'PROOF OF SERVICE ON DEBTOR' section by entering the date of service and signing where indicated. This confirms that you have notified the Debtor appropriately.
Finally, save your completed form and utilize our platform’s features to share or print it as needed for your records.

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Versions	Form popularity	Fillable & printable
2006	4.9 Satisfied (26 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the primary purpose of a trust?

Assets in a living trust skip probate, allowing your heirs to receive them faster. Privacy: A will becomes public record during the probate process. Trusts remain private, which can be attractive to those who want to protect the identity of their heirs and the details of their property.

What is the intent of trust?

The main functions of a trust are the function of the management and disposal of the asset, the function of the conversion of untrusted property, and the function of bankruptcy isolation. These functions can be utilized to handle the various needs of trusts.

How does paca work?

The PACA trust provisions require that buyers maintain a statutory trust on fruits and vegetables received but not yet paid for. In the case of a business failure or bankruptcy, the debtors trust assets are not available for general distribution to other creditors until all valid trust claims have been satisfied.

What is the intent of a trust?

PACA protects businesses dealing in fresh and frozen fruits and vegetables by establishing and enforcing a code of fair business practices and by helping companies resolve business disputes. AMS is responsible for administering PACA and offers many PACA-related services to the produce industry.