{"id":160,"date":"2017-02-17T19:19:54","date_gmt":"2017-02-17T19:19:54","guid":{"rendered":"http:\/\/www.performancesuretybonds.com\/blog\/?p=160"},"modified":"2022-01-24T16:04:50","modified_gmt":"2022-01-24T16:04:50","slug":"everything-need-know-alcohol-bonds-liquor-bonds","status":"publish","type":"post","link":"https:\/\/www.performancesuretybonds.com\/blog\/everything-need-know-alcohol-bonds-liquor-bonds\/","title":{"rendered":"Everything You Need to Know About Alcohol Bonds \/ Liquor Bonds"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-161\" src=\"https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2017\/02\/Alcoholic-Drinks-1024x683.jpg\" alt=\"Everything You Need to Know About Alcohol Bonds\" width=\"840\" height=\"560\" srcset=\"https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2017\/02\/Alcoholic-Drinks-1024x683.jpg 1024w, https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2017\/02\/Alcoholic-Drinks-300x200.jpg 300w, https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2017\/02\/Alcoholic-Drinks-768x512.jpg 768w, https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2017\/02\/Alcoholic-Drinks-1200x800.jpg 1200w, https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2017\/02\/Alcoholic-Drinks.jpg 1600w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/>In most states, if you\u2019re involved in the sale or distribution of alcohol you\u2019ll need to know about alcohol bonds.<\/p>\n<p><!--more--><\/p>\n<p>Let\u2019s take a look at the basics:<\/p>\n<h2><span style=\"color: #333399;\"><strong>Alcohol bonds are used to ensure that you follow your states rules and regulations<\/strong><\/span><\/h2>\n<p><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.performancesuretybonds.com\/surety-bond\/alcohol-liquor-tax-bond\/\">Alcohol bonds<\/a><\/span> are a type of compliance bond, they can also be known as liquor license bonds, and alcohol tax bonds. There are various types of bonds that vary by state. These bonds can cover transportation, manufacturing, storage, and sale of alcohol within the state. Alcohol bonds are used to ensure that companies who manufacture, sell or distribute alcohol comply with a state\u2019s rules and regulations.<\/p>\n<h2><span style=\"color: #333399;\"><strong>Liquor bonds involve three key parties: the principle, the obligee, and the surety.<\/strong><\/span><\/h2>\n<p>The <strong>principle<\/strong> is the business or individual who is purchasing the liquor bond as a guarantee that they will follow the state\u2019s regulations and pay liquor taxes.<\/p>\n<p>&nbsp;<\/p>\n<p>The <strong>obligee<\/strong> is the party who requires the purchase of the bond; in the case of liquor bonds, this is usually a government agency.<\/p>\n<p>&nbsp;<\/p>\n<p>The <strong>surety<\/strong> is the underwriter and issuer of the liquor bond.<\/p>\n<p>&nbsp;<\/p>\n<p>When you purchase a liquor bond the surety agrees to pay any liquor taxes or penalty fees you owe to the state, should you fail to do so. This means that the state is guaranteed to receive income from your alcohol sales, even if you fail to pay. If the state claims from the surety to cover your debts, the surety will then pursue the amount of those payments from the bond principle (you).<\/p>\n<h2><span style=\"color: #333399;\"><strong>The cost of purchasing a liquor bond<\/strong><\/span><\/h2>\n<p>The amount will likely be similar to the penalty costs for licensees. This means your bond will cover the penalty amount should you fail to comply with the rules and regulations of your state.<\/p>\n<p>&nbsp;<\/p>\n<p>The amount a liquor bond is written for depends on the state and the type of bond being purchased. The cost of the bond is generally calculated as a percentage of the total bond amount. Your credit score can impact the cost of a bond, with prices ranging from 1% to 15% percent of the bond amount. You will likely need to renew your liquor bond once per year, but liquor bond duration varies by state.<\/p>\n<p>&nbsp;<\/p>\n<p>For help finding a liquor bond in your state, <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.performancesuretybonds.com\/ref\/contact-us\/\">contact Viking today<\/a><\/span>. We\u2019ll get you a quote within 24 hours and help make the application process quick and easy!<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In most states, if you\u2019re involved in the sale or distribution of alcohol you\u2019ll need to know about alcohol bonds.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[19],"class_list":["post-160","post","type-post","status-publish","format-standard","hentry","category-blog","tag-alcohol-bond"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alcohol Bonds &amp; Liquor Bonds: Everything You Need to Know<\/title>\n<meta name=\"description\" content=\"Alcohol bonds are a type of compliance bond, they can also be known as liquor license bonds, and 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