If you operate or will operate vehicle upon the public highways of the State of Colorado and are liable for certain taxes, penalties or interest, you are required under the Colorado Revised Statutes Sections 42-3-123 to 42-3-126 to file a Colorado Mileage and Fuel 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 Colorado Mileage and Fuel Tax Bond holds you accountable for your business decisions.
By possessing a Colorado Mileage and Fuel Tax Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.