Mississippi Pharmaceutical Drug Facility Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond Amounts; Purpose
Pharmaceutical drug facilities operating in Mississippi are regulated by the state’s Board of Pharmacy, and are required to furnish evidence of financial responsibility in the form of one of two surety bond amounts:
- $25,000 surety bond, if your gross receipts were $10,000,000 or less for the previous tax year;
- $100,000 surety bond if your gross receipts were greater than $10,000,000 in the previous tax year.
The surety bond serves as a financial guarantee of your compliance with the Mississippi Pharmacy Practice Act, as amended.
Qualifying and the Premium
Our agency provides both the $25,000 and $100,000 Mississippi pharmaceutical drug facility bonds. For the $25,000, surety bond amount, we do so immediately upon completion of a signed surety bond application, but without a credit check.
The $100,000 surety bond amount also requires a signed and completed application. Additionally, there is an underwriter review which includes a credit check inquiry.
Good credit is required by our agency to be approved for the $100,000 surety bond amount.
Both surety bond amounts are issued at 1%, annually.
Upon approval of your bond request and payment of the premium, our agency issues you the following:
- Your surety bond;
- A Power of Attorney formal
Upon receipt of the original documents by mail, you’ll sign – and have witnessed — your bond as Principal. We will send it to you with our signature as Surety.
You’ll file all completed surety bond documents to:
Mississippi Board of Pharmacy
6360 I-55 North, Suite 400
Jackson, MS 39211
Premium Prepayment Options
With either surety bonds, you are given the option to prepay your premium for 2 or 3 years. Doing so offers you a savings over annual renewals, but you should be certain to account for whether or not you may require a higher surety bond amount at some point.
The premium prepayment option and savings are as follows:
— $25,000 surety bond amount —
- $450 if prepaid for 2 years, a $50 savings;
- $650 if prepaid for 3 years, a $100 savings.
—$100,000 surety bond amount —
- $1800 if prepaid for 2 years, a $200 savings;
- $2600 if prepaid for 3 years, a $400 savings.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Mississippi and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…