If you are engaged as a wholesale or distributor of special fuels in Louisiana, you are required under the Louisiana Revised Statutes Title 47, Chapter 7, Part V to file an Louisiana Special Fuels Tax Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Louisiana Special Fuels Tax Bond holds you accountable for your business decisions.
By possessing a Louisiana Special Fuels Tax Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.