What Is A Indiana Wholesale Fuel Distributor Bond?
The fees, taxes, and other legal expenses associated wit distributing wholesale fuel can be not only excessive, but also unpredictable. However, it is extremely important that all distributors be able to meet these obligations at any given time. This is why it is wise, and often required by the state of Indiana, to obtain wholesale fuel distribution bonds.
These bonds act similarly to a line of credit that can be used to cover the necessary legal expenses. The fuel distributor is then responsible for repaying the funds directly to the surety bonding company. The purpose of the bond requirement is to guarantee that the distributor is always capable of fulfilling their financial obligations to the IN government. Having a reliable fuel distribution bond in place can add a financial safety net to the company, giving everyone involved in the agreement peace of mind.
If you are in need of a surety wholesale fuel distribution bond, contact Ox Bonding today to explore your options.