Nonparticipating Manufacturer Surety Bond - Oregon

Nonparticipating Manufacturer Surety Bond is a legal document that was released by the Oregon Department of Justice - a government authority operating within Oregon.

FAQ

Q: What is a Nonparticipating Manufacturer Surety Bond?
A: A Nonparticipating Manufacturer Surety Bond is a type of bond required by the state of Oregon for manufacturers of tobacco products who are not participating in the Master Settlement Agreement.

Q: Who needs a Nonparticipating Manufacturer Surety Bond?
A: Manufacturers of tobacco products who are not participating in the Master Settlement Agreement and want to sell their products in Oregon need a Nonparticipating Manufacturer Surety Bond.

Q: What is the purpose of a Nonparticipating Manufacturer Surety Bond?
A: The bond ensures that the manufacturer will comply with the state's laws and regulations regarding the sale of tobacco products and will fulfill their financial obligations related to the Master Settlement Agreement.

Q: How much does a Nonparticipating Manufacturer Surety Bond cost?
A: The cost of the bond varies depending on the manufacturer's financial strength and other factors. It is typically a percentage of the manufacturer's total liability under the Master Settlement Agreement.

Q: How long does a Nonparticipating Manufacturer Surety Bond last?
A: The bond is typically valid for one year and must be renewed annually.

Q: What happens if a manufacturer fails to obtain a Nonparticipating Manufacturer Surety Bond?
A: Failure to obtain the required bond may result in fines, penalties, and the inability to sell tobacco products in Oregon.

Q: Can a manufacturer cancel a Nonparticipating Manufacturer Surety Bond?
A: Yes, a manufacturer can cancel the bond by providing written notice to the Oregon Department of Justice. However, the cancellation does not relieve the manufacturer of any obligations or liabilities that arose while the bond was in effect.

Q: Are Nonparticipating Manufacturer Surety Bonds required in other states?
A: Yes, several other states have similar requirements for nonparticipating tobacco manufacturers.

Q: Is a Nonparticipating Manufacturer Surety Bond the same as a tobacco tax bond?
A: No, a Nonparticipating Manufacturer Surety Bond is specifically for nonparticipating manufacturers who are not part of the Master Settlement Agreement. A tobacco tax bond, on the other hand, guarantees payment of state taxes on tobacco products.