Samantha Moore

(623) 251-6705

Colorado Retail Marijuana License Bond

What is a Marijuana License Bond?

This bond is a requirement of the Colorado Department of Revenue. This bond must be obtained in order for an applicant to be granted a license to own and operate a retail marijuana cultivation facility and/or a retail dispensary. The purpose of the bond is to provide protection for the state against any loss suffered by reasons of violations of the conditions pursuant to Colorado Retail Marijuana Code, Article 43.4 of title 12 of the Colorado Revised Statues. Furthermore the bond stands as a pledge by the applicant to uphold and abide by these conditions and state statues and to ensure payment of all license fees and penalties imposed by the State of Colorado. It is to give the state recourse and the ability to recoup money that is owed and not paid by the party who is licensed.

Bond Amounts

The bond amount is set by the state and the amount of this bond is $5,000.00, for all cities and counties, except for Denver and Aurora. Denver and Aurora will require a $20,000.00 license bond. However the amount is subject to change at any time per the states discretion.

How Much does the Bond Cost?

The cost of the Bond can vary from each individual applicant and the applicant's information. The rate is determined by underwriting the company's financial strength, as well as any and all owner's personal financials and personal credit, who have 10% or more ownership in the business. However, we do not necessarily need the owner's personal financial statement to get a quote for this particular bond, but with the personal financial we generally are able to obtain better rates. We then provide the information to all our markets who will write these bond types, which helps to ensure we have obtained the lowest rate possible. The rates are calculated on an annual basis and can range typically from 3% to 20%. Generally the more information provided and the better the credit and financial support of the applicant, then the lower the rate is that we can obtain.

Obtaining the Bond

The process to obtain this bond is really very simple. To obtain this bond, we just need a completed application on each owner with 10% or more ownership in the business. You can complete one of our applications, or if you have one you already have done with someone else, you can always send that to us and we can use that too. And again, providing a personal financial statement on each owner helps us to obtain the lowest rates possible, but is not a necessity. You can contact me direct for these forms, via my information listed in this website, either by phone, fax or email. Once this information is obtained we can get you a quote usually within 24 hours. Please contact me for an application to get started or if you have any questions regarding bonds.

By: Samantha Moore

I provide quotes to my clients for all types of Surety Bonds. I provide competitive quotes in all 50 states. Feel free to contact me to get your bond request moving forward. Complete the contact form on the page to send me an email or call me at (623) 251-6705.

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(623) 251-6705

About This Site

SuretyBonds.Biz is a website for Viking Bond Service, Inc. producers to provide information about frequently requested surety bonds in their words. Viking producers specialize in surety bonds of all types. Since bonds are the sole product provided by Viking, the producers are an excellent resource for information and assistance.