Liquor bond
The principal gives guarantee to the state that he will comply with both the federal and the state laws act, regulations, administrating the sale, production and warehousing of the product alcohol. This bond has been created by both central and the state government with the principal. This bond gives guarantee to the state that the taxes will be paid as per the terms of payment. Sometimes this bond is called as intoxicating liquor bond or alcohol bond, when alcohol is used for beverage purposes.