When the principal (party applying for this bond) is obtaining a license from the Utah Department of Agriculture and Food to carry on business as a Cannabis Processing Facility, the principal must post a Utah Cannabis Processor Bond. The bond amount is $50,000 and the bond guarantees strict compliance with with all applicable provisions of, and orders, rules and regulations issued pursuant to, Utah Code Title 4, Chapter 41a. An individual may not act as a cannabis production establishment agent unless the department registers the individual as a cannabis production establishment agent.
Processors in Utah are responsible for Dry, Cure, Extraction, Refinement, Formulation, Packaging, and Labeling of Medical Cannabis Products. Utah has two Tiers of processing licenses.
The checklist can be found here. One of the items on that check list is the Utah Cannabis Processor Bond. The full name of the bond is Medical Cannabis Processor PERFORMANCE BOND. Criminal history and back ground checks will be performed on all applicants with a minimum of 2% ownership in the processing establishment. The Facility is responsible for ensuring all employees have background checks and are registered in the Electronic Verification System (EVS). The company is also responsible for collecting agent cards and notifying the Department
when an agent leaves their facility. Failure to comply will result in a citation and a fine to the company.
At Surety1.com we make it easy to apply for this, and all your surety bond needs. Simply complete our easy to navigate, online application and within 1 business day one of our surety professional agents will contact you with a quote or request additional information that the underwriters may require.
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