Who Needs An Alcoholic Beverage Control Surety Bond?
State and federal governments require businesses that handle the sale, manufacturing and storage of alcoholic beverages to obtain an Alcoholic Beverage Control Surety Bond.
What Is The Purpose Of Alcoholic Beverage Control Bonds?
Alcoholic Beverage Control Bonds guarantee that all necessary taxes and fees are paid promptly and in full, as well as protect against any illegal action on behalf of the business owner, such as fraud, theft and misrepresentation, by ensuring they operate in accordance with all applicable laws and regulations.
How Much Are Alcoholic Beverage Control Bonds Written For?
There are two types of coverage this surety bond covers, each with varying bond amounts.
Federal Bond Requirement:
Alcohol and Tobacco Tax and Trade Bureau (TTB) requires a surety bond for all distillers, brewers and restaurants who owed more than $50,000 in excised taxes during the prior tax year. The bond amount can vary depending on the volume of the business. It is recommended that you consult the TTB for specific bond amounts prior to bonding.
State Bond Requirement:
Similar to the Federal requirement, individual states may require a surety bond to guarantee all taxes on alcohol are paid. Bond amounts vary by the state so make sure to contact the appropriate authority to determine before applying.
How Much Does A Surety Bond Cost For Alcoholic Beverage Control?
Pricing for Alcoholic Beverage Control Surety Bonds will vary. Premium for the bond is based on a number of factors, including:
- Amount of the bond
- Personal credit of the business owner
Highly qualified individuals can expect to pay 1%-3% of the bond amount. To find out how much your Alcoholic Beverage Control Surety Bond is going to cost, please complete our online application for your free, no obligation price quote.
Can I Get This Surety Bond With Bad Credit?
Pacific Surety offers a wide-range of approvals, regardless of credit, for Alcoholic Beverage Control Surety Bonds. With our strong surety relationships, we have the ability to approve 99% of applicants, regardless of how bad their credit is, and our knowledgeable underwriting staff will work with you to ensure you receive the lowest possible pricing for your bond. To see what rate you will qualify for, please complete our online application for your free, no obligation price quote.
How Do I Get An Alcoholic Beverage Control Surety Bond?
The first step is to complete our quick online application for your free, no obligation bond quote. Submission takes only five minutes, and our underwriting staff will be in contact with you within a couple of hours with pricing. If you prefer to speak with our knowledgeable staff, please call 1-866-722-7873 and one of our Underwriters will assist you in applying for your bond.
After you receive approval, you must sign an indemnity agreement with the surety and provide payment for your bond premium. In most cases, we can issue bonds the same day we receive your signed documents and payment.