Those who sell Alcoholic Beverages on the Premises for Consumption are required under the Tennessee Codes Annotated section 57-4-302 to file a Tennessee Alcoholic Beverage Tax Consumption on the Premises 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 Tennessee Alcoholic Beverage Tax Consumption on the Premises Bond holds you accountable for your business decisions.
By possessing a Tennessee Alcoholic Beverage Tax Consumption on the Premises Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.