Information on Pharmacy Wholesaler Bonds
This page is a guide to surety bonds for pharmacy wholesalers. If you’re looking for information on DMEPOS bonds that are required for pharmacies, click here.
At SuretyBonds.com, we know that surety bonds can be confusing for clients. So, to help you on your way, we’ve developed this quick and easy guide to pharmacy wholesaler surety bonds.
Businesses that broker, distribute or otherwise transact dangerous drugs and/or equipment to other wholesalers, pharmacies or practitioners must file a surety bond before being licensed in certain states. These bond types work to keep businesses from mismanaging drug shipments and/or sales.
Pharmacy bonds are known by a number of names that vary depending on the state requiring it. Some common ones include:
- Arizona Drug Wholesale Bond
- California Wholesaler or Nonresident Wholesaler Surety Bond
- Maryland Drug Wholesaler Bond
- Nebraska Wholesale Drug Distributor Bond
- Wisconsin Wholesale Distributor of Prescription Drugs
SurertyBonds.com can help you no matter where you work or the specific surety bond type you need.
State Specific Costs by State
Bond costs and requirements vary greatly by state as the bond amounts and regulations surrounding each license are established on a state level. Select your state below for more information about Collection Agency Bonds in your area or call 1 (800) 308-4358 to speak with a surety expert.
Pay A Low Rate For Your Bond
By working with SuretyBonds.com, you could pay a rate that’s just 2-4% of your bond amount. This means if you need $25,000 of coverage, you could pay just $500 to $1,000. Or, if you need $100,000 of coverage, you could pay $2,000 to $4,000.
Because SuretyBonds.com is a brokerage agency, we’re able to shop your bond with the surety industry’s top underwriters to find you the best rate available. To get your free, no obligation price quote, contact a surety specialist today!
Bad Credit? No Problem! We Can Bond You!
Other surety providers avoid working with clients who have credit issues, but SuretyBonds.com believes every client should be able to get the surety bond they need. This is why we established our one-of-a-kind Bad Credit Surety Bond Program. We can approve 99% of applicants regardless of past credit history.
Get Your Pharmacy Wholesaler Bond Fast
If you’re in a time crunch, SuretyBonds.com can help. We know getting a surety bond can be stressful, and you don’t want to sit around waiting. We even offer an overnight shipping option! If you pay for your bond today, you could have it in your hands tomorrow. Get started by applying for your bond now!
Learn More About Pharmacy Bonds
Each drug wholesaler bond that’s issued brings three entities together into a legally binding contract.
- The principal is the pharmacy business that purchases the bond as a guarantee of future work performance.
- The obligee is the government agency that requires the bond as a way to reinforce industry regulations.
- The surety is the insurance underwriter that issues the bond, thus backing the principal.
The financial protection provided by these bonds can be used to pay unpaid fines or other penalties imposed by a government agency. If a government agency makes a claim on a pharmacy bond to collect unpaid fines, the surety will investigate the claim. If the claim is validated, the surety will pay up to the bond’s full amount and then require the pharmacy wholesaler to reimburse it for the full claim.
Pharmacy Bond Exemptions
Not all pharmacy wholesalers need to be bonded in order to get their business license.
- Licensed manufacturers that only dispense drugs they themselves manufacture might not need a bond as a part of the licensing process.
- Pharmacy warehouses typically only need to be bonded if they are engaged in wholesale distribution.
To determine whether your business needs a bond, contact whatever government agency regulates pharmacy licensing in your state.