Utah Cannabis Processor Performance Bond

Bond Penalty: $50,000

Pursuant to Chapter 41a: Cannabis Production Establishments, licensing is now allowed for operators upon filing of an Utah cannabis processor performance bond and compliance with all current application requirements. "Cannabis processing facility" means a person and/or entity that acquires or intends to acquire cannabis from a production establishment or a holder of an industrial hemp processor license, possesses cannabis with the intent to manufacture a cannabis product, manufactures or intends to manufacture a cannabis product from unprocessed cannabis or a cannabis extract, and sells or intends to sell a cannabis product to a medical cannabis pharmacy or a medical cannabis research licensee.

Upon filing of the preliminary application, a license candidate must deliver a statement to the office of the medical cannabis program that the applicant will obtain and maintain an Utah medical cannabis processor performance bond issued by a surety company authorized to conduct business in Utah. The bond requirements for cannabis licensing in Utah are currently:

  • $250,000 for each cannabis cultivation facility for which the applicant applies; or
  • $50,000 for each cannabis processing facility or independent cannabis testing laboratory for which the applicant applies.

Per the Utah Medical Cannabis Program, "The Medical Cannabis Processing Establishment License request for proposals (RFP) is available through the Sciquest Portal. As of January 1st, 2020, the solicitation number is DB20008. Interested parties should register as a "vendor" to access the system.

Utah surety bond leader, SuretyOne.com is the most agile underwriter of the surety bonds needed by the cannabis sector. We firmly believe in supporting the availability of cannabis products to patients that benefit from them. We will consider applications for marijuana operations in every state where current legislation favors legal cannabis businesses. For further information about a Utah medical cannabis processor performance 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.

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