City of Palm Springs Cannabis/Marijuana Surety Bond
What is a City of Palm Springs Cannabis/Marijuana Surety Bond?
Before the issuance of any cannabis license and permit, a cannabis/marijuana surety bond must be posted to the City of Palm Springs.
A City of Palm Springs cannabis bond would ensure that all state and local taxes for selling, producing, and warehousing are paid on time. A claim may be made to recover any unpaid taxes or fines if the principal fails to comply with the bond's terms.
How does this Bond work?
This surety bond involves three parties, specifically:
The Principal – the applicant for a Cannabis/Marijuana surety bond
The Obligee – the entity requiring the surety bond
The Surety – the Surety bond provider
A City of Palm Springs cannabis bond protects the Obligee in the event that the Principal breaches any of his or her bonded obligations. The Obligee will file a bond claim if the Principal fails to fulfill any of the bonded obligations imposed by the relevant laws, rules, and regulations.
How much would you pay for this Surety Bond?
The bond premium will vary per applicant and the cost will depend on many factors. This will mostly depend on the applicant’s credit score. Although usually, the price is set at $250 or less.
Find out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How do you secure this Surety Bond?
- APPLY FOR THIS SURETY BOND – We begin the bonding process with an application and you may send your application for this bond HERE!
- PREQUALIFICATION PROCESS – Once we receive your submitted application, an underwriter will ask for you to submit the following necessary requirements:
- Your business’ history
- Proof of your financial capability
- Your credit score
To avoid any delay, please make sure that your requirements are complete before submitting them.
- BOND ISSUANCE – The bond will be issued and sent to you immediately after you have signed the indemnity agreement.
If you are ready to apply for this surety bond, you can START HERE!