A Petroleum and Alternative Fuels Tax Bond is a type of surety bond required of those applying to the Tennessee Department of Revenue for a license or permit to deal in, transport or use petroleum products or alternative fuels under the provisions of T.C.A. Section 67-3-101 et seq. T.C.A. 67-3-609 and 67-3-610. The surety bond secures the payment of all taxes, interest and fees connected with petroleum products and alternative fuels as set forth under Chapter 3 of Title 67, Tennessee Code Annotated. Furthermore, the surety bond ensures compliance with all requirements and provisions of the state statutes.
