Alcoholic Performance Bond
What is a Alcoholic Performance Bond?
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.
Purchasing Your Alcoholic Performance Bond
1. Click the Buy Now button.
2. Fill out the easy bond form.
3. Confirm your order and select how you would like your bond documents delivered. Email or regular mail.
4. Pay for your bond.
5. If you chose to have your documents emailed, you will receive them within minutes.
It’s that simple and fast!
Pricing & Terms
Surety bond costs are a percentage of the full bond amount, which is usually determined by your personal credit. Providing industry experience, strong personal credit, and business/personal financials will help lower your bond rate. Reach out for a quote today.
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 bondholder 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 canceled or until the license and renewals expire.
A performance surety bond can be canceled by written notice, and the cancellation is effective 30 days after the written notice is received.
Bond Purchase Process
1. Find Your Bond
2. Secure Pricing
3. Buy Online
Frequently Asked Questions
There are hundreds of different bonds for all kinds of purposes—but regardless the industry or project—they all operate essentially the same way. A surety bond guarantees that you will operate professionally and if you break the rules, a claim can be made on your bond which you’re responsible to pay.
It’s a guarantee that you will complete the work and fulfill your contractual obligations. Think of it as insurance for the public, not your business.
For most bonds, you can get instantly approved and print bonds at your home or office. However, we do not offer instant approvals for a select number of bonds, as the underwriting process generally involves a more extensive review of the applicant.
Looking to Get Started or Have Questions?
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!