All about Utility Deposit Bonds

Utility deposit bond Florida is a type of commercial bond that is required from businesses or homeowners by utility companies to ensure that there is no delay in paying utility bills. The obligee here is the utility company and the principal is the homeowner or business. If there is a breach in the conditions of the bond, the principal and the surety will both be liable for paying the compensation. Who needs utility deposit bonds? Not everyone needs a utility deposit bond. Homeowners or in read more

How to Buy Surety Bonds Online

Buying a bond is very easy these days, thanks to the internet. You can simply shop around and find the best surety bonds online that meet your requirements. But this must be done carefully. Determine the type: You have to first decide the type of bond that you need to buy. It will be part of the license, permit or contract that you are trying to obtain. Some industries have more than one bond. For instance, alcohol bonds depend on the nature of the trade and the state. Before anything else, y read more

What You Should Know About Alcoholic Beverage Bond

If you are applying for a license to engage in the manufacture, warehousing, or sale of alcoholic beverages, you will have to get an Alcoholic Beverage Bond. In this case, the obligee is the government agency that collects taxes on alcohol and the bond guarantees the payment of state or local taxes. The regulations concerning taxes and the handling of alcohol differ from one state to another. The name of the bond differs from one state to another The Alcoholic Beverage Bond is known by many read more

Medicare & Medicaid Bonds — FAQ

Also known as DEMPOS bonds, CMS bonds, and DME bonds, Medicare & Medicaid Bonds are required by the Center for Medicare & Medicaid Services from businesses that bill Medicare for equipment. The purpose of the bonds is to reduce fraud in Medicare billing. Who needs Medicare & Medicaid Bonds? DEMPOS bonds are a requirement for businesses that bill Medicare and deal in durable medical equipment, prosthetics, orthotics, and other equipment. Why do we need these bonds? Medicare read more

Public Official Bonds [Infographic]

Why We Need Agricultural Bonds

Agricultural bonds are required of agricultural packers, marketers, and dealers as per state regulations and the US Department of Agriculture’s requirements. Since these bonds are meant to enforce the rules of the Federal Packers and Stockyards Act, they are also known as agricultural packers and stockyards bonds. The principle here is the agricultural company, while the obligee is the federal or state government. The surety is the company that provides the bond. But why are agricultura read more

All About Alabama Warehouseman Bond

The Alabama Warehouseman bond is required of owners of public warehouses by the Commissioner of Agriculture and Industries for the State of Alabama. The principle here is the warehouse owner and the obligee is the State of Alabama Department of Agriculture and Industries, Gin and Warehouses Section. Who needs the bond? It is typically required of anyone who applies for the Alabama Public Warehouseman's Permit. This includes those applying for public warehouses, cotton merchants, cotton gin read more

What You Should Know About Tobacco Tax Bond

Also known as a Cigarette Tax Bond, the Tobacco Tax Bond is a type of surety bond required of tobacco product sellers and dealers by government licensing bodies. The bond guarantees that the principal will pay taxes to the government and follow the industry rules and regulations. If a business fails to pay the taxes, a claim can be filed against the bond, and if the claim is found to be valid, the surety will pay the amount and collect it from the principal. Before you buy a bond, you should read more

When & Why You Need Utility Deposit Bonds

Utility deposit bonds get their name from the obligee. The utility deposit bond is required by a private or government utility company for supplying their services to certain businesses. The bond guarantees that the principal will make all due payments to the utility company for its services. It is a type of surety bond. The three parties of the bond are: Principal: The business that needs the utility. Obligee: The utility company that requires the bond. Surety: The surety is the company read more