A Cannabis Surety Bond is a licensing bond that provides a financial guarantee to the state that you will perform according to the laws & regulations governing your license. If you get multiple licenses in the same state or across multiple states then you will need to get a separate bond for each license. There are many different license types such as cannabis grower, cultivator, dispensary or retailer. Depending on the state and license type the bond amount can range from $5,000 to $5,000,000.
With the federal & state governments still not agreeing on cannabis laws, writing cannabis surety bonds is still a challenge. Only a small handful of surety carriers will even write cannabis bonds. Fortunately we have access to every one of them. The underwriting requirements vary depending on bond size and state. In general they range from a simple one page bond application and soft pulling credit to providing financial statements and business plans.
Cannabis surety bonds may also be referred to by many other names, including:
- Medical marijuana surety bond
- Medical cannabis surety bond
- Medical marijuana dispensary surety bond
- Medical marijuana grower surety bond
- Medical marijuana cultivator surety bond
- Medical marijuana retailer surety bond
- Medical marijuana distributor surety bond
- Medical Marihuana* Surety Bond
*Some obligees, like the State of Michigan, use this older spelling of marijuana.