Alcoholic Performance Bond
Serving Dallas, Fort Worth, Carrollton, Arlington, Austin, El Paso, Houston, San Antonio, Irving, Plano, Grand Prairie and throughout Texas.
A performance surety bond may be required if your business does not have a food and beverage certificate. For businesses like liquor stores, restaurants, wineries, and breweries, a performance bond helps guarantee the timely execution of your business and enforces ethical business practices.
If a business with a performance surety bond is found to be unlawful or unethical, the bond pays out any claim made against the business, and the business must reimburse the surety for all expenses and damages paid.
Basically, the performance bond helps protect the state from any financial loss generated from said business.
Do I Need a Performance Surety Bond?
Performance surety bonds are only required in certain counties and states.
If you do not have a food and beverage certificate, but only have a wine and beer retailer’s permit or a beer retailer’s license, you may be required to hold a performance bond.
Ask one of our agents if you are required to have a performance surety bond for your business.
How Much Does a Performance Surety Bond Cost?
Initially, a performance bond of $2,000 is required of most businesses. If that first performance bond ends up being forfeited, the bond holder must purchase a $4,000 bond before their license can be reinstated. If that second bond is forfeited, then a $6,000 surety bond is required.
Surety bonds are effective from the date of issue and remain current until they are cancelled or until the license and renewals expire.
A performance surety bond can be cancelled by written notice, and the cancellation is effective 30 days after the written notice is received.
How To Apply
To get started, simply apply online using one of our quote forms.
TMD Surety is knowledgeable and offers the lowest rates of known surety companies, so you can be sure you’re getting the best service and best prices available.
Feel free to use the contact form for any questions or for a specific quote. We pride ourselves in great customer service and are ready to help in any way we can.
Ready to get started? Apply online today!