Liquor Bond – Liquor Tax Bond – Liquor Bond Quote
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What is a Liquor Bond or Liquor Surety Bond?
A Liquor Bond is bond required by the local government to participate in the sale, manufacturing, or warehousing of liquor and liquor products. Liquor Bonds are usually rated on the financial strength of the entity applying for it. The Liquor Bond protects the government in the event that the company, business or individual is maintaining fraudulent records or is unable to pay on previously collected liquor tax funds.
Who is required to have a Liquor Bond?
State governments typically require this bond, which is considered a financial guarantee. In the event you can not pay the Liquor Tax that is due, the bonding company will make good on the debt and then turn to you for remuneration of these funds.
Is it difficult to get a Liquor Bond?
Typically the surety bond industry tends to be hesitant to issue these surety bonds or financial guarantee bonds, the liquor tax bond appears to be the exception for those who qualify. There are two main reasons for this exception: First, taxes are typically held aside at the time of sale therefore lowering risk by assuring that the money is there and has already been collected. Secondly, this bond is required by the state, this helps in elevating the risk for bonding company.
How do I get a Liquor Bond?
Obtaining a Liquor Bond is not difficult. It pypically requires a simple application that takes less than 5 minutes to complete. If you wish, we are more than happy to assist you in completing the application. The questions are easy and are simply a barometer of your financial situation. Feel free to contact us, we will make this process as easy and affordable as possible.
Does Bad Credit prevent you from getting a Liquor Bond?
We also have access to a Surety Bond Program for individuals or organizations that have insufficient credit or bad credit for liquor bonds. If you have poor credit, bad credit, or are just starting a new business and have no credit, please ask us about this