Commercial Cannabis Licensee Bond Form - State of California 2025

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The document is a bond agreement for The Hive Laboratory, LLC, required by the State of California under the Medicinal and Adult-Use Cannabis Regulation and Safety Act (MAUCRSA). It outlines the obligations of the Principal to comply with cannabis regulations and ensures financial coverage for the destruction of cannabis products in case of violations. The bond is issued by Hudson Insurance Company and remains effective throughout the license period unless canceled.
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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering the bond number in the designated field. This is crucial for identifying your specific bond.
  3. Fill in the premium amount for the bond, ensuring accuracy as this reflects your financial commitment.
  4. Provide the legal name of the principal (the business entity) and their service address. This information is essential for legal identification.
  5. Next, enter the name of the surety company and its state of incorporation. This ensures that all parties are correctly identified.
  6. Complete the section regarding compliance with MAUCRSA regulations, affirming your commitment to adhere to cannabis laws.
  7. Finally, ensure that signatures from both the authorized representative of the principal and attorney-in-fact for surety are included, along with printed names and titles.

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$1,000,000 surety bonds typically cost 0.510% of the bond amount, or $5,000$100,000. Highly qualified applicants with strong credit might pay just $5,000 to $1,000 while an individual with poor credit will receive a higher rate.
A marijuana or cannabis surety bond is a licensing bond that provides a financial guarantee to the state or local government that you will perform business activities ing to the laws regulations governing your license.
A California contractor license bond costs an average of $250 - $750. The bond cost is a small percentage of the total bond amount needed ($25,000). This amount is also known as a bond rate or bond premium. Generally, the better an applicants credit score, the lower their cost.
A bid bond is a type of bid security that provides assurance to the principal (typically the owner) that the contractor will accept the contract as bid. Bid bonds are required on most federal projects because of the Miller Act, though other types of projects may require bid bonds as well.
Contractors are required to file a $25,000 contractor license bond with the California CSLB to maintain an active license. The bond protects the CSLB by transferring to a surety bond company the cost of damages to the public resulting from a licensed business breaking Californias Contractor License Law.

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Find a Bond Provider: Look for a licensed surety bond provider that is authorized to issue contractor license bonds in California. Application Process: Apply for a quote. Underwriting and Approval: An underwriter will review the application and assess financial stability and creditworthiness.
Per Section 15002 of the regulations, an application for an annual cannabis license must include proof of a surety bond of at least $5,000 payable to the State of California for each licensed premises.

Related links

State-Powered Acceleration of Cannabis Economy Growth

by BC Varadi 2025 This Part discusses the structure of these bonds, their potential market appeal, and addresses legal and practical considerations for their

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Form 8113: Commercial Cannabis Licensee Bond

Jan 3, 2024 Per Section 15002 of the regulations, an application for an annual cannabis license must include proof of a surety bond of at least $5,000

Learn more

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