If you are engaged in the distribution of gasoline in Massachusetts you are required under the provisions of Chapter 64C of the General Laws of Massachusetts to file a Massachusetts Gasoline Distributor Excise 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 Massachusetts Gasoline Distributor Excise Tax Bond holds you accountable for your business decisions.
By possessing a Massachusetts Gasoline Distributor Excise Tax Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.