Medical Marijuana Dispensary Bonds

Many states have legalized the sale of marijuana for medical or recreational purposes. In some states, businesses must acquire a surety bond before they are legally allowed to open a medical or retail marijuana dispensary.

Each state requires a particular type of marijuana surety bond, with its own purpose and scope. Some cities and counties may require their own bond forms in addition to the forms that are required for licensing at state level. Surety1 can help you get the correct forms for your dispensary in Illinois.

 

Medical Marijuana Dispensary Bonds

 

Bond Amounts and Costs in Illinois

In Illinois, a dispensary must obtain a bond for both the “dispensing organization” and the “cultivation facility.” The bond amount for the dispensing organization is $50,000. The bond amount for the cultivation facility is $2,000,000. The cost of the bond (the amount you actually pay to get the bond) is a percentage of this.

The costs for these bonds are referred to as premiums. The premium is not the bond amount; it is a certain percentage of the bond amount. The exact premium amount will be discussed between you and your agent after you submit an application for the bond.

Credit is a factor when calculating the premium along with the bond amount. Surety1 works with all types of credit and businesses.

 

How to Get Your Illinois Medical Marijuana Dispensary Bonds

  1. Complete an online application. It’s free and no-obligation.
  2. One of our surety experts will contact you with a firm quote and an agreement to sign.
  3. Provide payment and your signed agreement, and then you will receive your Surety Bond!

If you have any questions, please call us at 877-654-2327.

How to Get Bonded

1. Apply Online
Using our Free & Secure Application
2. Get Your Free Quote
Applications are No-Obligation
3. Get Your Bond
Most Bonds are Approved in 1-2 Business Days

Surety Bond Experts

Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.

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