Tennessee Petroleum Products and Alternative Fuel Distributors are required under the Tennessee Codes Annotated section 37-3-101 et seq. to file a Tennessee Petroleum Products and Alternative Fuels 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 Petroleum Products and Alternative Fuels Bond holds you accountable for your business decisions.
By possessing a Tennessee Petroleum Products and Alternative Fuels Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.