What is a Marijuana Surety Bond?
Marijuana surety bonds guarantee that your dispensary will operate in accordance to your state's laws and regulations, and can be required of both medical and recreational marijuana dispensaries to obtain a license. However, whether you need a bond, and the specific bond type required will vary depending on your operation/the state you're conducting business in. As more states legalize both medical and recreational marijuana, the number of bond requirements will likely increase across the country.
For example, if you want to operate a marijuana dispensary in Alaska, you will need a bond which guarantees you will report/pay taxes on the goods you sell to the state in a timely fashion. If you don't pay the required taxes, a claim will be filed on your bond which you must pay.
What Do Marijuana Surety Bonds Cost?
These bonds generally cost between 1-15% of the requirement bond amount. The percentage you must pay (your rate) is based on your financial strength, e.g. personal credit, business financials, etc. You you're ready for a quote, can get a free quote on your bond now.