Commercial surety bonds are a classification of several bonds including license and permit bonds, auto dealer bonds, fuel tax bonds and many more that provides guarantees of financial performance.
The Infographic titled as “Different Types Of Commercial Surety Bonds” describes some of the most popular commercial bonds. These include the following:
- Fuel Tax Surety Bonds: Gasoline Tax Bonds are the bonds which are required by the State and Federal governments. These bond guarantees the government entities that the principal (supplier of fuel) will pay any and all taxes on fuel sold.
- License & Permit Surety Bonds: This bond guarantees that the principal will engage in business in a manner compliant with a set of rules and regulations.
- Mortgage Broker/Banker/Lender Surety Bonds: This bond ensures that the consumer is protected against the wrongful practices or fraud on the part of a lender or broker.
- Alcoholic Beverage & Tobacco Tax Surety Bonds: This bond guarantees that the principal will pay all taxes related to the sale of alcoholic beverages.
For further details, refer the given Infographic.
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