City of Shasta Lake Cannabis/Marijuana Surety Bond
What is a City of Shasta Lake Cannabis/Marijuana Surety Bond?
All persons operating a cannabis/marijuana business in the City of Shasta Lake must secure a $5,000 Surety Bond which will cover the costs of destruction of cannabis or cannabis products if necessitated by a violation of licensing requirements.
How does a City of Shasta Lake Cannabis/Marijuana Surety Bond work?
Essentially, a surety bond is an agreement between three parties:
Principal – the entity applying for the City of Shasta Lake cannabis bond
Obligee – the state or municipality requiring the bond
Surety – the Surety Bond provider
This 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 applicable laws, rules, and regulations.
The Surety will conduct an investigation to see if the claim is true. The Surety will pay the Obligee on behalf of the Principal if the claim is legitimate. If the payment has been made, the Principal must pay the Surety.
What is the cost of obtaining a City of Shasta Lake Cannabis/Marijuana Surety Bond?
The ‘bond premium’ is the amount charged to the customer and it is only a percentage of the bond amount.
The bond premium is based on the financial strength and character of the customer. If you need an estimate for your surety bond cost, get your FREE surety bond quote here!
How do you secure this Surety Bond?
Here’s what you need to do to easily secure a City of Shasta Lake cannabis bond:
- You have to send an application to us and you can do so by APPLYING HERE!
- After we have received your application, we will ask for you to submit the following necessary information for the underwriting process:
- Your financial capability
- Your credit score
- Your business or job performance history
- In order to attain the best credit decision possible, an experienced underwriter would carefully analyze all three. To prevent any delays, make sure the information is well-organized and clear.
- Afterward, we will issue and send your surety bond to you!