What Is A Concessionaire Bond?
A concessionaire is a company or individual who will be providing food based concessions at fairs, festivals, and other booth based events. The concessionaire has the responsibility to their customers to provide foods that are unspoiled, safe for consumption, and not expired. Additionally, the concessionaire is responsible to the property owner or event coordinator to pay all rent and fees during the event itself.
A concessionaire bond is a type of surety bond that protects two different parties. These surety bonds protect the customer of that business by ensuring that the business will not practice unethically or injure them in any way. The second party would be the land owner or the event coordinator who is owed money for rent or fees. The concessionaire bond indicates that all moneys will be paid properly.
For anyone who is a concessionaire, whether an individual or business, they will need to be approved for the proper concessionaire bonds. If you need to apply for this surety bond, then Ox Bonding is here to help you.