How much does a tobacco retailer bond cost in Indiana?
The Indiana Department of Revenue requires tobacco product distributors selling products other than cigarettes to post a $1,000 surety bond. Please note that this bond is NOT for cigarette distributors.
SuretyBonds.com issues these one-year bonds instantly for just $100. Simply click Buy Now to purchase your bond today via our secure bond checkout. In just a few minutes you can be on your way to getting bonded as an other tobacco product distributor in Indiana.
|Bond Type||Bond Amount||Cost|
|$1,000 Tobacco Products Distributor Bond NOT for cigarette distributors||$1,000||$100|
Why do I need this bond?
By posting an Indiana tobacco products distributor’s bond, the principal (products distributor) agrees to abide by all rules, laws, and regulations stated in the Indiana Code. The following are examples of rules to be followed by tobacco distributors in Indiana:
- Pay all taxes in a timely fashion with all correct and necessary information
- Have current, up-to-date license
- Does not make false statements about amounts and products sold
If a principal violates any of the terms of his or her bond agreement and consumers are harmed, the surety will compensate them for any damages up to the full bond amount; however, the principal is responsible for reimbursing the surety.
What’s the fine print?
Indiana tobacco products distributor’s bonds are continuous until canceled, and the surety must give the state at least 60 days of notice prior to cancellation.
Tobacco retailers must obtain a separate surety bond for each business location they operate.
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