What is a Virginia Malt Beverage Manufacturer, Bottler, or Wholesaler Bond?
Know the importance of this surety bond and how to get one fast!
What is a Malt Beverage Manufacturer, Bottler, or Wholesaler Bond?
All manufacturers, bottlers, and wholesalers must furnish a surety bond before they can sell beer or wine coolers to licensed retailers.
This licensure requirement is mandated by the Virginia Alcoholic Beverage Control Board of the Department of Alcoholic Beverage Control of the Commonwealth of Virginia.
The purpose of the surety bond is to ensure the licensee’s performance of the following obligations:
- File a complete report to the Virginia Alcoholic Beverage Control Board. This should be done on or before the tenth day of each month. The report must include the quantity of beers and beverages manufactured, bottled, or sold during the previous calendar month.
- Include the amount of tax in the report
- Pay the required excise taxes
- Comply with all the relevant laws
If the manufacturer, bottler, and wholesaler commits any act that is in direct violation of the rules and laws that governs them, the Obligee will be eligible to file for a bond claim in order to recover the monies lost.
What is the Malt Beverage Manufacturer, Bottler or Wholesaler Bond amount?
The bond amount should be equal to the volume of business of each manufacturer, bottler, or wholesaler. This will be determined by the Virginia Alcoholic Beverage Control Board.
$1,000 – minimum bond amount
$100,000 – maximum bond amount
If you have determined your bond amount, you may check you bond premium by getting your FREE QUOTE HERE from us!
How can I get a Malt Beverage Manufacturer, Bottler or Wholesaler Bond?
SEND US A BOND APPLICATION– We begin the bonding process with an application. You may send your application for this bond HERE!
UNDERWRITING– Once we have received your application, an underwriter will ask you to submit the following important requirements:
- Proof of your financial capability
- Your business’ history
- Your credit score
In order to avoid any delay, make sure that your requirements are complete prior to submitting them.
ISSUANCE– As soon as the underwriter has completed the necessary in-depth check, we will immediately issue the surety bond and send it to you!
What are the surety bond conditions?
- The surety bond should be issued by a Surety who is authorized to conduct business in the Commonwealth of Virginia
- The surety bond should be made payable to the Virginia Alcoholic Beverage Control Board of the Department of Alcoholic Beverage Control of The Commonwealth of Virginia
- The licensed manufacturer, bottler, and wholesaler must follow the provisions of the Alcoholic Beverage Control Act as well as the rules and regulations of the Virginia Alcoholic Beverage Control Board
- If the licensee commits a violation, the Obligee will be eligible to file a claim against the bond