Pharmaceutical wholesalers play a crucial role in the distribution of prescription drugs and medical supplies. To ensure the safety and integrity of this process, the Arizona Department of Health Services (ADHS) mandates that pharmaceutical wholesalers obtain a Pharmaceutical Wholesaler Bond as part of their licensing requirements. This surety bond serves as a financial guarantee that wholesalers will comply with state laws and regulations governing their industry.
The pharmaceutical wholesaler's bond guarantees the principal's compliance with the requirements for wholesale distribution of prescription-only drugs as defined in the Arizona Pharmacy Practice Act, A.R.S. Title 32 Chapter 18 (the Act) and any rules adopted by the Board, and to secure payment of any administrative penalties imposed by the ASBP, fees and costs incurred by the ASBP that the Principal fails to pay thirty (30) days after the fine or costs become final. The Arizona surety bond is ostensibly limited to penal sum however a modifying provision of the bond form (provision 7.) states, "Should any proceedings be necessary to enforce this bond, the ASBP shall be allowed to recover any reasonable attorneys' fees, prejudgment and post-judgment interest at the legal rate, and costs, in addition to other sums found due. Under this bond, whether private or public attorneys are used by the ASBP to enforce the bond, attorneys' fees are calculated at the commercial rate for private attorneys within the metropolitan Phoenix area.", therefore losses in excess of the bond penalty may be contemplated. Questions about the surety bond and permitting may be directed to:
Arizona State Board of Pharmacy
P. O. Box 18520
Phoenix, AZ 85005
Arizona surety bond leader, Surety One, Inc. offers immediate approval of your Arizona pharmaceutical wholesaler bond request. Our special programs afford each applicant bonding capacity regardless of financial condition. Operating in multiple states? We offer this class of surety bond in all states and also offer fidelity bond / commercial crime coverages for this class of business. Call (800) 373-2804, email Underwriting@SuretyOne.com or click here for a live chat with a surety underwriter to discuss this or any other surety bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.