Kansas Surety Bond Types
There are many reasons an individual or business might need to secure a surety bond in Kansas. One commonly issued bond in Kansas is the retail liquor license excise tax bond. In this instance, an individual or business that sells retail liquor must secure this bond to guarantee that they pay all appropriate excise taxes. If the individual or business fails to do so, it would be responsible for paying retribution to the government up to the bond's full value.
While this bond is most attractive to those in Kansas's liquor industry, it's state government also requires many other types of businesses to secure surety bonds as well, from auctioneers to car dealerships. The Kansas state government seeks to use surety bonds to protect its consumers from fraudulent businesses and broken contracts.
Kansas Surety Bond Requirements
Make sure you look at the specific rules and regulations regarding bonding in your area. You want to make sure you get the right type of bond in the correct amount to avoid penalties. But keep in mind, surety bonds aren't just about keeping the law and avoiding penalties. They're about protection for you and your potential customers.
If you're interested in bonding yourself or your business but you're not sure what type of bond is the most appropriate, contact a surety specialist today.