Frequently Asked Questions (FAQ)
Bond Amount ranges from $100.00 to $25,000.00. Standard Rate is 0.789% per year; with a minimum premium of $100.00.
How Much Does a Brewers Bond Cost in Washington State?
How Much Does a Brewers Bond Cost in Washington State?
The Brewers Bond in Washington is a form of financial guarantee that most brewers need to obtain in order to operate legally in Washington State. This bond protects consumers and government agencies from fraudulent activities, contract breaches, or other issues related to the brewers’ operations in Washington.
Key Points to Know About the Brewers Bond
- License Requirement: In most U.S. states, including Washington, brewers are required to provide a bond as part of the licensing process for operating a brewery.
- Consumer Protection: If a brewer breaks the law, provides false information, or infringes on consumer rights, customers or the State of Washington can file a claim against the bond to recover damages.
- Bond Amount: Depending on the state and type of business, the bond amount may vary. For brewers in Washington, this amount typically ranges from $100 to $25,000. Brewers pay only a portion of this amount as a bond premium, similar to an insurance premium.
- Brewers’ Obligations: Brewers must comply with all laws and regulations governing their operations. Violations of these rules may lead to claims against the bond.
Thus, the brewers’ bond is an essential tool to ensure trust and protect the interests of consumers and government agencies.
What Does a Brewer Do?
Brewers are companies that produce and sell beer. They may work directly with consumers or distribute their products through retailers.
Example: Boris and His Brewery
Boris owns a brewery in Washington State. His company produces several types of beer, which are sold both at his store and through distributors throughout the state. However, one time Boris violated alcohol storage regulations, which led to an investigation and the cancellation of his bond. This cost Boris not only financial losses but also his business license.
How Much Does a Brewers Bond Cost in Washington?
The cost of a Brewers Bond in Washington ranges from $100 to $197.25 per year. The standard rate is 0.789% of the bond amount.
Example: How Boris Lost His Bond
Boris, the owner of a brewery, violated state alcohol production licensing laws. As a result, claims were filed against his bond, and he lost his financial guarantee.
Frequently Asked Questions
How Much Does a Brewers Bond Cost in Washington?
The cost of the bond ranges from $100 to $197.25 per year, depending on the bond amount.
What Documents Are Needed to Obtain a Bond?
A signed application is required to obtain the bond. The process can be completed quickly online through the agent’s portal.
What Happens If a Brewer Violates the Terms of the Bond?
If brewers violate contract terms or the laws of Washington, their bond may be canceled, resulting in the suspension of their operations.
Agents can issue a Brewers Bond in Washington through the agent’s portal.
Other bonds can be viewed on the official website.
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Execution Notes
Bond is electronically signed by the Surety Attorney in Fact.
Filing Method
Executed bond must be filed with the obligee by agent/principal.
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