Express Scripts now requires some applicants who wish to contract with their company to obtain a $500,000 performance bond for a minimum of the first two years of the contract.
According to Express Scripts this bond requirement, “guarantees to the obligee (Express Scripts) that the principal will carry out the performance of their contract according to terms and conditions agreed to by the parties.” Express Scripts may also require that the bond extend beyond the initial two-year period.
Requirements for Obtaining the Bond
In order to obtain a surety bond that Express Scripts will accept, pharmacies must ensure the surety they apply with has an AM Best rating of at least A-VIII. Also, pharmacies who post this bond must hold an active bond for a minimum of two years.
Why Choose JW Surety Bonds?
We are the nation’s largest volume bond producer, and provide the lowest rates in the industry. It’s also crucial that you understand that you’re responsible to pay any claims filed on your bond. When you partner with our company, you will have a dedicated claim specialist assigned to your account to ensure claim payouts are either reduced or avoided all together.
Get a Free Quote Instantly Online
If you’re ready to get a surety bond for this new bond requirement, you can simply apply online.