Oregon Pharmacy Wholesaler Bond | AmeriPro Surety Bonds | 844-589-9732
AmeriPro Surety Bonds provides new and renewal applicants with an Oregon pharmacy wholesaler bond.
The pharmacy wholesaler license, once issued, renews on June 30th of each year.
The surety bond should ideally run concurrently with your wholesaler license, if at all possible.
Oregon Pharmacy Wholesaler
Pharmacy wholesalers are the midpoint between the manufacturer of a pharmaceutical drug and the pharmacists who dispense the medication to consumers via prescription.
Pharmacy wholesalers in Oregon are regulated by the Oregon Board of Pharmacy.
Becoming Licensed as an Oregon Pharmacy Wholesaler:
Applicants for an Oregon pharmacy wholesaler license application will need to complete the following:
- Determine if they are classified as a wholesaler Class I , Class II, or Class III applicant;
- Pay a $475 nonrefundable application for Class I. Classes II and III will pay a $425 application fee;
- Provide the name of the contact representative;
- Provide disclosure information relating to prior disciplinary activity and the right to act as a wholesaler in the state of Oregon;
- Applicants must also include proof of licensing from their current resident state;
- Applicants for an Oregon pharmacy wholesaler license must also provide to the Board of Pharmacy proof of the requires surety bond.
Oregon Pharmacy Wholesaler Bond: Amount and the Cost to You
The amount of the Oregon pharmacy wholesaler bond is $100,000, for each location.
This surety bond is required for the “sole” benefit of the Oregon Board of Pharmacy. Applicants who are approved for this bond will need to have good credit. If you are approved, you will pay 1%, that is, $1000, annually for this bond in premium.
Additionally, our agency offers you the opportunity to prepay this bond for up to 3 years. Prepayment of your premium allows you to renew less frequently. You are also provided with a savings over year to year renewal of the premium.
The premium prepayment breakdown — and savings — are as follows:
- If prepaid for 2 years, the premium is $1800, a $200 savings;
- If prepaid for 3 years, the premium is $2600, a $400 savings.
Oregon Pharmacy Wholesaler Bond: Purpose
The purpose of the Oregon pharamcy wholesaler bond is to protect the Oregon Board of Pharmacy from any acts of fraud or criminal misdeeds committed by a licensed pharmacy wholesaler.
The bond is also a financial guarantee that penalties not paid less than 30 days after becoming final will be covered by the bond.
We note that any costs paid on a surety bond must always be reimbursed by the principal (the entity who purchased) the surety bond.
Oregon Pharmacy Wholesaler Bond: Duration
The bond is active for one year from the date of issuance.
The wholesaler license renews annually on June 30th.
Premium of an Oregon Wholesaler Bond
Two factors will predominate in determining the premium of the Oregon wholesaler bond:
- The amount of bond required;
- The applicant’s credit score.
While AmeriPro Surety Bonds cannot change the amount of bond required, we do work with applicants with a variety of credit score ranges.
In all cases, we work to obtain the most fair pricing for your wholesaler bond.
About AmeriPro Surety Bonds:
AmeriPro Surety Bonds is a surety bonds-only agency which provides surety bonds of all types throughout the state of Oregon.
We also provide surety bonds in all 50 states, which means we have access to thousands of surety bonds.