Vermont Cannabis Escrow Surety Bond

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Bond Penalty: $2,500 or $5,0000 per Vermont Cannabis Control Board

The Vermont cannabis license bond is a financial assurance mechanism contemplated under Board Rule 1.4.5(b). The Vermont Cannabis Control Board was created by 7 V.S.A. §843 to, "[...] safely, equitably, and effectively implement and administer the laws enabling adult use and medical use of cannabis in Vermont.” The statute grants the Board broad authority to promulgate rules for the marijuana business. Among the first round of licensing rules is the requirement of financial assurance for the cessation of operations and "clean up" of any remnant materials produced by the licensed cannabis operator.

Pursuant to Board Rule 1.4.5(b), "A license applicant a surety bond or alternative financial assurance to be held in case the cannabis establishment ceases operations. The bond amount is determined by the Board however preliminary guidance has been offered for calculating the Vermont cannabis bond amount, to wit;

$2,500 Requirement
Tier 2 manufacturers
Tier 2 Cultivators
Tier 3 Cultivators

$5,000 Requirement
Retailers
Wholesalers
Tier 3 Manufacturers
Tier 4 Cultivators
Tier 5 Cultivators
Tier 6 Cultivators
Integrated Licensees

The Vermont Cannabis Control Board is headed by leaders in the agricultural and business sectors. The Board's mission is to build a legal cannabis program with special effort devoted to social equity, consumer protection and implementation as a "harm reduction tool.) The member administrators are eminently approachable, available to legacy cannabis producers that wish to "come into compliance" as well as new cannabis entrepreneurs of all social and economic strata. Contact the Board as follows:

Cannabis Control Board
89 Main Street
Montpelier, VT 05620-7001
ccb.med@vermont.gov

SuretyOne.com is the most agile underwriter of cannabis surety bonds and insurance coverages needed by the marijuana industry. We firmly believe in supporting the availability of cannabis products to patients that benefit from them and adult legal-use enterprises. We will consider applications for dispensaries, labs, manufacturers and grow operations in all states where current legislation favors legal marijuana businesses.

For further information contact us at (800) 373-2804, email Underwriting@SuretyOne.com or chat with us live here for more information about how to apply for a Vermont cannabis surety bond.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.

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