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

Why We Need A Collection Agency Bond

Collection agency bonds are required to collect debt on behalf of clients who are owed money. The bond is essential to license the agency and to ensure that the agency behaves in an appropriate manner. Work according to industry regulations The agency must follow industry norms in order to obtain the bond. In order to ensure and maintain such integrity, a licensed agency must follow all rules and regulations designed to protect the general public while adhering to professional and ethical read more

All about Public Official Bonds

Public officials occupy positions of trust, within the government. Dealing with confidential information, they serve the general public. To ensure that these powers are not misused, many employees must be licensed. The Public Official Bond is necessary to obtain such a license. Who must get a Public Official Bond? Government workers covered under Public Official Bonds include federal, state, county, municipal, and court employees. The bonds cover department heads and may also applies to their read more

Medicare & Medicaid Bonds — Who Needs Them & Why

The purpose of most surety bonds is to ensure an ethical working or business environment. When used in healthcare, these bonds also serve the sole purpose of ensuring the safety of patients. Medicare & Medicaid Bonds are meant to protect against fraud. The bond is usually required from manufacturers or suppliers of equipment. If found guilty of fraud, a claim can be made against the bond. Who needs Medicare & Medicaid Bonds? The Medicare & Medicaid Bonds are required for businesses read more