Cannabis Surety Bonds
A cannabis surety bond is required by some states in order to operate a cannabis business and is often required in order to obtain a cannabis business license. By obtaining the bond, you will be in compliance with state regulations and laws. Without it, you may not be able to obtain your license or may face penalties including fines, litigation, and may run the risk of having your business completely shut down. For each license that you obtain, a surety bond is required for that license. This means that, for example, if you have a retail license and a cultivation license, you are required to have a surety bond for both licenses.
At the Cannabis Coverage Company, we have access to a carrier that charges a flat rate, unlike many other companies that charge a rate based off of your credit score. In other words, we offer a carrier that will charge you a rate that has no correlation to your credit score, which means you have less to worry about!
Because surety bond requirements vary from state to state, the best thing you can do is contact us today to find out what coverages you need to remain in compliance with for your state laws.
For example, if you live in California, our agents are able to provide you with information regarding what a surety bond is as well as information that is specific to California requirements. We can educate clients on California cannabis bond requirements and all other inquires.
