Financial Consultant Services

The Vendor is required to provide free financial counselling and mediation services to farmers who are having difficulties meeting their financial obligations.
- It is a voluntary, private and confidential service that brings farmers and their creditors together with a mediator in a neutral forum to reach a mutually acceptable solution.
- The financial consultant will conduct a site visit, inventory all the farmer’s assets, create financial statements of the farming operation, develop a recovery plan for the purpose of reaching a financial arrangement between the farmer and their creditor(s), and attend mediation meeting(s).
- The service provides a streamlined process of mediation to assist insolvent farmers and their creditors to negotiate settlement arrangements, rather than have those disputes result in costly legal proceedings for all parties.
- The financial consultant proceeds with a comprehensive examination of the farmer’s financial situation.
- This examination involves gathering financial data from creditors and preparing a financial statement.
- The information utilized for the review may include the farmer’s business records, tax returns, account balances from creditors and information on price from real estate agents, auctions and machinery dealerships.
- The financial consultant will assist the farmer in developing a recovery plan that details the proposed steps the farmer will take to overcome their current financial challenges. The plan will include projections to validate its feasibility.
- The financial consultant is required to contact all creditors of a farmer to determine the current balance owing, the amount of arrears and accrued interest, the security held, payment schedule, and any other pertinent information
- An analysis of the farmer’s operation and financial situation including but not limited to production systems, farm and other assets, supplier arrangements and payables, creditor arrangements, and marketing arrangements and payables.
- The financial consultant is required to review credit verification searches where applicable.
- Income tax returns for the past two years must be obtained from the farmer as well as any other relevant financial statements.
- Production records must be reviewed, and the physical premises and operation must be inspected. 
- The financial consultant must assess and determine the current value of any assets, prepare a balance sheet and income statement for the last two years, and identify projected losses or potential gains.

- Contract Period/Term: 3 years