The bond ensures that the licensed wholesaler will act in accordance with licensing and state regulations. The bond protects consumers in the event that the licensed wholesaler violates the terms of their bond and fails to remedy the damages caused by their business.
In most cases, anyone applying for their California Prescription Drug Wholesaler License or the Nonresident Prescription Drug Wholesaler License with the California State Board of Pharmacy must obtain a $100,000 surety bond (unless another type of security is approved).
This bond can cost as little as $1,000 per year with optimal credit, business and personal financial statements.
Complete the online application. You may also request a PDF application via an email to apps@southcoastsurety.com.
The California Business and Professions Code requires any person or business that acts as a prescription drug wholesaler to be licensed with the California State Board of Pharmacy and post a $100,000 surety bond. The bond is in place to protect consumers from unethical or fraudulent business conducted by the licensed wholesaler.
Rates for this bond start as low as $1,000 per year with acceptable credit and business and personal financial statements. Rates are available for applications with excellent to challenged credit. To apply, please complete the online application. For the best rate available, please submit financial statements as well. Our team will submit your application to multiple carriers to ensure we offer you the lowest price available.
South Coast Surety has been proudly providing surety support to all fifty U.S. states for twenty years. Starting out as a small agency with a dream in San Clemente, California, we have steadily grown into one of the largest bond-only agencies in the nation. We write all commercial bonds and contract bonds for every American business and industry. Our greatest achievement is helping our clients grow their business alongside our own through coaching and obtaining larger bonding limits at the best rates. We work hard for our clients and take pride in bonding businesses that have been declined by our competitors.