California Third Party Logistics Provider Bond - $25,000
Bond Requirements & Set Rates
| Bond Amount Required | Annual Premium |
| $25,000 | $500 |
Businesses operating as third party logistics providers (3PLs) may be required to get a surety bond as part of their licensing requirements. Required by the California State Board of Pharmacy, the California third party logistics provider bond guarantees the provider will follow all state health and safety regulations regarding the storage and distribution of pharmaceuticals.
Cost of a California Third Party Logistics Provider Bond
The cost of a $25,000 California third party logistics provider bond is $500 with NNA Surety. For this bond amount, you must provide tax documentation proving your annual gross receipts for the previous year were $10 million or less. Get your third party logistics provider bond today.
For new applicants, you can purchase the $90,000 third party logistics provider bond here.
Why You Need a California Third Party Logistics Provider Bond
A California third party logistics provider bond is a financial guarantee required under state regulations governing logistics and warehousing operations. It ensures theâ¯California State Board of Pharmacyâ¯is paid for anyâ¯administrative finesâ¯orâ¯cost recoveryâ¯owed by the provider.
The surety bond is an agreement between three parties:
- Principal: Third party logistics provider
- Obligee: Pharmacy Board Contingent Fund
- Surety: Bonding company
If the bonded business fails to pay administrative fines or costs ordered by the Board, the California State Board of Pharmacy may file a claim against the bond to recover those funds. The surety company will investigate the claim and, if valid, compensate the affected party up to the bond amount. The bonded business is then responsible for reimbursing the surety for any paid claims.
How to Get a California Third Party Logistics Provider Bond
Here are the steps to get the third party logistics provider bond:
- Complete this form with your business and licensing details.
- Pay the premium to activate your bond.
- File your bond with the California State Board of Pharmacy.
- Working with an experienced surety provider like NNA Surety helps ensure a smooth process and quick coverage.
Get Your California Third Party Logistics Provider Bond
NNA Surety can help you meet California requirements to become or maintain your license as a third party logistics provider. Complete this form to get bonded today.