Nevada Pharmaceutical Wholesaler Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amounts and Purpose
Nevada pharmaceutical wholesalers are required to furnish evidence of financial responsibility in the form of a surety bond, which is required in one of two amounts:
- $25,000 for non-publicly traded entities, whether as a sole member company, a partnership or corporation which meets the conditions as outline on the State Board of Pharmacy site;
- OR a $100,000 surety bond for all other non-publicly traded corporations.
Publicly traded companies are exempt from the surety bond requirement.
For both amounts, the purpose of your surety bond requirement is to serve as a financial guarantee of your payment of any fines imposed by the Board and any costs and fees associated with the nonpayment of fees assessed.
Qualifying and the Premium
Qualifying for either the $25,000 or $100,000 Nevada pharmaceutical wholesaler bond includes completing a surety bond application and having the application reviewed by an underwriter.
To facilitate ease of completing the application, our agency offers the application to you by DocuSign. We can also send the application to you by an email scan.
Your completed application is reviewed by a surety bond underwriter. Review includes a credit check inquiry, and approval is offered on the basis of good credit.
The rate is 1%, annually, $250 or $1000.
Upon approval of your surety bond and payment of the premium, our agency issues your bond to you immediately for filing with the Board. Included with your surety bond will be a Power of Attorney form.
You will sign your pharmaceutical wholesale bond as Principal, filing it along with the POA form to:
Nevada State Board of Pharmacy
431 W. Plumb Lane
Reno, NE 89509
Premium Prepayment Options
For both the $25,000 and $100,000 pharmaceutical wholesaler bonds, the premium may be prepaid for 2 or 3 years. Doing so, besides lengthening the time between renewals, also offers you a savings over annual premium payments.
The renewal option and savings are as follows:
***$25,000 surety bond amount***
- If prepaid for 2 years, the premium is $450, a $50 savings;’
- If prepaid for 3 years, the premium is $650, a $100 savings.
***$100,000 surety bond amount***
- If prepaid for 2 years, the premium is $1800, a $200 savings;
- If prepaid for 3 years, the premium is $2600, a $400 savings.
AmeriPro Surety Bonds provides pharmaceutical-related surety bonds in any state where required. Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…