Indiana Special Fuel License Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond & Purpose
Indiana businesses which deal in “special fuel” — defined as gases or liquids which can be used in an internal combustion engine; or which are used for heating, industrial, and farm purposes (Indiana Code Title 6.6-2.5) — are required to demonstrate evidence of financial responsibility by purchasing a surety bond.
The surety bond required amount is:
- The greater of a $2,000 surety bond requirement;
- Or, not more than 2 month’s tax liability, as determined by the Commissioner of Indiana’s Department of Revenue.
Your special fuel license surety bond serves as a financial guarantee that you will pay all taxes, interest, fees, and penalties due in connection with your business activities.
Qualifying and the Premium
Obtaining an Indiana special fuel license bond includes completing a short surety bond application and having your application reviewed by an underwriter.
Our agency can begin the application process with you by telephone; however, you will need to complete and sign your application. You will also need to provide us with the amount of bond needed.
The underwriter review process includes a credit check inquiry.
Approval is granted on the basis of good credit. Upon approval of your surety bond and payment of the premium, our agency issues your bond to you immediately.
Our agency will then sign your bond as Surety and we’ll also provide you with a Power of Attorney form.
When you receive your documents by mail, you’ll have your bond notarized as Principal and file it along with all other documents received to the Department of Revenue.
Term of Your Surety Bond
The special fuel license bond is issued with a standard term of one year. Presumably, the amount of surety required may fluctuate from one year to the next.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate and other surety bonds in Indiana and all 50 states.
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