The California Wholesale Pharmacy Dealer Bond is required by the California Department of Consumer Affairs, Board of Pharmacy.
A wholesaler license is required by any business that distributes, brokers or transacts the sale or return of dangerous drugs or dangerous devices in California. To get this license, it is required that companies post a surety that is either in the amount of $25,000 and $100,000.
The specific requirements for the California Wholesale Pharmacy Dealer Bond are:
- Any applicant for initial license or license renewal as a wholesaler or nonresident wholesaler must submit a surety bond of $100,000 made payable to the Pharmacy Board Contingency Fund.
- A single surety bond or other equivalent means of security will cover all licensed sites under common ownership.
- The board may accept a surety bond of $25,000 if the annual gross receipts for the previous tax year are $10 million or less.
CLICK HERE to view a copy of the $25,000 Wholesale Pharmacy Dealer Bond
CLICK HERE to view a copy of the $100,000 Wholesale Pharmacy Dealer Bond
The California Wholesale Pharmacy Dealer Bond ensures that all taxes, fees and fines incurred by the bond principal, the person or entity that buys the bond, are paid in their full amount to the State of California. The bond principal in this case will be you, the wholesaler. The obligee, the person or entity that requires the bond, is the State of California and this bond protects them from financial harm or loss done by your company.
How do I apply for the bond?
At surety1 we make it easy to apply for a California Wholesale Pharmacy Dealer Bond. Simply complete our easy to navigate, online application. Usually within one business day one of our friendly agents will contact you with a free, no obligation quote for the bond or request additional underwriting information that may, or may not be required. Then you make payment, sign some paperwork and your bond will be delivered via traceable mail. Overnight delivery is also available.
Surety1 is a service of AssuredPartners one of the nation’s largest and fastest growing insurance brokers. Surety1 is the premier online provider of surety bonds nationwide since 2003. Surety1 maintains an A+ rating from the Better Business Bureau and is licensed in all fifty states.