Tennessee Alcohol Corporate Principals are required under the Tennessee Codes Annotated section 57-3-303 to file a Tennessee Alcoholic Beverages Corporate Principal 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 Tennessee Alcoholic Beverages Corporate Principal Tax Bond holds you accountable for your business decisions.
By possessing a Tennessee Alcoholic Beverages Corporate Principal Tax Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.