The Florida Department of Business and Professional Regulation (DBPR) is the regulatory body which oversees pharmaceutical wholesaler distributors.
Along with Chapter 499.012(m) of the state’s Statutes, you as a pharmaceutical wholesaler professional must also obtain a surety bond.
The bond required is in one of two amounts.
Pharmaceutical wholesalers who conduct business in Florida are required to have a surety currently, or otherwise purchase one.
The rules are as follows...
The purpose of this surety bond is to protect the DBPR and others from any acts committed by a pharmaceutical wholesaler which violate the provisions of state and federal laws.
The bond, again, protects others from acts of fraud, theft, or willful misconduct committed by you as a licensed pharmaceutical wholesaler, or any employees, managers, or owners of your business.
As such, the surety bond is not an insurance policy for the wholesaler distributor. It does not protect you at all. Its existence is only as a financial guarantee which solely benefits those who might be harmed by a wholesaler’s wrongful actions.
The premium for this surety bond will depend on two main factors:
You will be required to pay a premium that is a small percentage of this bond’s face value.
AmeriPro Surety Bonds will work to find you the best pricing solution available to meet your circumstances.
The pharmaceutical wholesaler bond lasts for one year and is renewed on an annual basis.
Our agency will mail you a renewal notice approximately 60 days before your renewal. You will need to file the renewal surety bond with the DBPR as a condition of maintaining your ability to conduct business in Florida.
AmeriPro Surety Bonds provides surety bonds throughout Florida.
We also have the capacity to offer license and permit, contractor, court, and fiduciary bonds nationwide.
Please call us at:
Or, you may fill out the form below and a Surety Agent will contact you: