A Medical Marijuana Surety Bond is a licensing bond required by certain states. They provide a financial guarantee to the state that you will perform according to the laws & regulations governing your license. There are many different license types and a huge range in required bond amounts, from $5,000 to $5,000,000 depending on the state & whether you’re a marijuana grower, cultivator, dispensary or retailer. 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.
The main challenge in the surety world is that the federal & state governments still don’t agree. That makes medical marijuana bonds a hot potato and only a small handful of surety carriers will even write these 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. Rest assured we’ll make this process simple for you.
Medical marijuana surety bonds may also be referred to by many other names, including:
- Cannabis 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.