What is the California Pharmacy Wholesaler Bond?
The California pharmacy wholesaler bond is required of all resident and non-resident pharmacies which distributes or brokers prescription drugs to other wholesalers, pharmacies, or practitioners. The primary purpose of the bond is to ensure payment of fines and fees assessed by the Pharmacy Board and any cost recovery action owed by the applicant.
How do I apply for a California Pharmacy Wholesaler Bond?
- Complete our online California Pharmacy Wholesaler Bond application, or
- Download and complete our printable California Pharmacy Wholesaler Bond application, and
- Receive your surety bond quote in minutes!
What California Pharmacy Wholesaler Bond amount do I need?
The needed wholesaler bond amount depends on the gross annual sales of the applicant. The initial surety bond amount needed is $100,000 unless the company can demonstrate its gross sales did not exceed $10 million in the prior year. If so, the pharmacy wholesaler bond amount can be reduced to $25,000 unless the wholesaler has previously received an administrative fine or disciplinary action by any state or federal agency (not just California).
How much does the California Pharmacy Wholesaler Bond cost?
The wholesaler bond cost will depend on the personal credit of the company’s owners and the corporate financial condition. In some cases, the personal indemnity of the owners can be waived due to the strength of the corporate financials. Most applicants can expect a surety bond cost of 1-2% of the surety bond amount needed. For example: The $100,000 bond cost would be roughly $1,000-2,000 annually and the $25,000 amount would cost $250-500 annually.
How long will it take to receive my California Wholesaler Bond?
Generally, our bond approvals are issued the same day we receive the application. Your bond can be issued as soon as payment and the required indemnity agreement are received. A scanned copy of the bond will be emailed to the applicant for your records. The original bond delivery time will vary depending on the type of shipping selected. DBL Surety offers overnight, 2 day, and first class mail deliver options for your convenience.
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