The Livestock Marketing Association’s (LMA) new member only program, Payment Assurity Services, (PAYS) is an insurance product that mitigates a market’s risk against buyer default from a bad check or open invoice. The NAFB Trade Talk served as a platform for LMA to share more about their optional service for members.

I spoke with President of PAYS, Jennifer Aiman, during the event where she said PAYS will begin Jan. 1, 2016 and they are currently enrolling members. “Auction markets have access to it by calling 1-800-821-2048 or they can talk to their field rep. Sometimes we get the questions, ‘How does this benefit the auction?’ It provides financial protection and in return the markets provide a venue for competition, true price discovery, speed of commerce, transparency and guaranteed payment to consignor.”

Listen to my complete interview with Jennifer to learn more about PAYS here: Interview with Jennifer Aiman, LMA, PAYS

LMA serves as host for the World Livestock Auctioneer Championship and Kristen Parman, vice president of membership services, filled us in on the annual event. Paris, Kentucky will serve as host for this world series of livestock auctioneers.

“Folks will get to see 31 of the best livestock auctioneers from around the world. We take the top 10 qualifiers from each of our three regional events that are held in the states. Then we also bring in international livestock auctioneer champion to compete for an opportunity for a world title.”

Listen to our complete interview with Kristen to learn more about LMA’s stolen livestock alert system Interview with Kristen Parman, LMA

View and download photos from the event here: NAFB Convention Photo Album