Maryland Wholesale Pharmaceutical Distributor Bond Overview
- Purpose: To ensure drug wholesalers follow federal and state laws
- Who Needs It: Wholesalers distributing or transacting drugs and medical equipment to pharmacies
- Regulating Body: The Maryland Board Of Pharmacy
- Bond Amount: $50,000 or $100,000 — based on gross annual sales
- Minimum Price: $500 — credit-based
What Is a Maryland Wholesale Pharmaceutical Distributor Bond?
Maryland wholesale distributor bonds ensure that distributors pay all of their taxes and any other necessary fees. The bond also allows patients, pharmacies, hospitals and the state to file a claim against the distributor if they suffer financial losses as a result of professional misconduct.
Bond Coverage Requirements for Maryland Pharmacy Wholesalers
Your required bond amount will be $50,000, unless your annual gross sales exceed $10 million. You’ll need to submit your tax return to verify your gross receipts and resulting bond requirement:
- Less than $10,000,000 in annual gross sales: $50,000 bond
- $10,000,000 or more in annual gross sales: $100,000 bond
Alternatively, you can submit a letter of credit. However, a surety bond is typically a more affordable option because you only pay a small premium versus full collateral.
How Much Do Pharmaceutical Distributor Bonds Cost in Maryland?
Maryland pharmaceutical wholesaler bonds cost 1–10% of the total bond amount. The $50,000 bond amount starts at $500, or 1% for qualified applicants.
Similarly, the $100,000 bond starts at $1,000 if you have a strong personal credit score. Select your bond amount below to request a free quote.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Maryland Pharmaceutical Distributor Bond Work?
A Maryland pharmacy wholesale distributor bond creates a legally-binding contract between three parties.
| Bond Party | Description |
|---|---|
| 1) Principal | The distributor filing the bond |
| 2) Obligee | The Maryland Board Of Pharmacy requiring the bond |
| 3) Surety | The issuing surety provider |
As the principal, you are responsible for upholding all state laws, rules and regulations under Maryland Health Occupations Code Section 12-6C-05. The bond holds you, the principal, responsible for paying any fines or sums owed under the distributor permit.
How Do I Get a Wholesale Pharmaceutical Distributor Bond in Maryland?
With SuretyBonds.com, you can apply for a free Maryland pharmacy wholesaler bond quote online 24/7. Simply enter your information into the form on this page. We’ll send you your exact price within one business day — often same-day.
You can complete your purchase online 24/7. Once you checkout, we’ll email you the official bond form right away. Remember to file the bond with the Board of Pharmacy along with your license application packet.
Can I Get Bonded With Bad Credit?
If you’re worried about having a lower credit score, read about our Bad Credit Bonding Options. We work hard to approve 99% of applicants.
How Do I Renew My Bond?
Maryland pharmacy bonds expire annually. You’ll need to renew your bond to maintain your wholesaler permit. Just follow the instructions in the renewal reminders.
You’ll receive texts and emails 90 days prior to your bond’s expiration date.
How Do I Update My Bond Information?
If you need to update basic information on your bond form, email [email protected] for assistance. A representative will help issue a bond rider for simple fixes.
How to Become a Pharmaceutical Wholesale Distributor in Maryland
You’ll need to apply for a wholesale distributor permit with the Maryland Board of Pharmacy. Complete the application packet and include all supporting materials.
Mail the paper application forms, surety bond and check for the $1,750 fee to: Maryland Board of Pharmacy, P.O. BOX 2024, Baltimore, MD 21203-2024
