Licensing of California cannabis businesses is in full swing! The microcbusiness class is defined by the Bureau of Cannabis Control as, "engaged in the cultivation (on an area less than 10,000 square feet), manufacturing (Level 1 manufacturing, Type 6), distribution, and retail sale, or any combination of the four activities." A California cannabis microbusiness bond is required in order to qualify for both the Adult-Use (A-License) and Medicinal (M-License) licensees in additions to compliance with all rules and regulations,adopted by the California Department of Food and Agriculture and the California Department of Public Health.
Per the Bureau, the cannabis microbusiness bond must be written in the amount of $5,000 and name the State of California as the obligee (beneficiary). "The surety bond is to cover the destruction of cannabis and cannabis goods if necessitated by a violation of the licensing requirements. All bonds must be issued by a corporate surety licensed to transact surety business in the state of California." There are significant other licensing requirements which include specific insurance coverages. You may review the application preparation guide here.
SuretyOne.com is the most agile underwriter of the surety bonds needed by the cannabis sectro. We firmly believe in supporting the availability of cannabinoid products to patients that benefit from them and responsible adults where authorized by law. We will consider applications for dispensaries, cannabis delivery services, microbusinesses and grow operations in all states where current legislation favors legal marijuana. For further information on the cannabis microbusiness bond contact us at (800) 373-2804, email Underwriting@SuretyOne.com of chat with us live here.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.