Florida Wholesale Prescription Drug Distributor Bonds

Florida Wholesale Prescription Drug Distributor Bond

Businesses that distribute wholesale prescriptions must be registered with the Florida Department of Business and Professional Regulation (DBPR). In order to be eligible for a license with the Department’s Drugs, Devices, and Cosmetics Program, a specific surety bond is required of the applicant. 

If you are seeking a prescription drug wholesale distributor license (including out-of-state applicants), a Prescription Drug Wholesale Distributor Bond is needed. And a Limited Veterinary Prescription Drug Wholesale Distributor Bond is required of those applying for a limited prescription drug veterinary wholesale distributor license. 

To make things easier, the Jet team simply refers to these surety bonds as Wholesale Prescription Drug Distributor Bonds.

QUOTE

Jet Insurance Company provides Wholesale Prescription Distributor Bonds to act as a financial assurance to the Department of Business and Professional Regulation that state license rules will be upheld. Should the licensee commit a prohibited act (e.g. fraudulently sell or offer to sell a repackaged or misbranded drug, device, or cosmetic) or fail to pay any fees due to the DBPR (more than 30 days past the due date), the surety bond may be used to cover what is owed to the Department and/or damaged party.

What Is the Limit and Cost of a Prescription Drug Wholesale Distributor Bond?

The Department of Business and Professional Regulation makes it easy for applicants of the Limited Prescription Drug Veterinary Wholesale Distributor Bond with a standard $20,000 bond amount requirement. While the Prescription Drug Wholesale Distributor Bond has a custom limit. So if your previous tax year’s annual gross receipts are $10 million or less, a $25,000 bond amount is needed, and if it’s over this amount, a $100,000 bond limit is required. 

At Jet, prices for Wholesale Prescription Drug Distributor Bonds are a small percentage of the limit and are based on the personal credit score of the wholesale distributor (in some cases, a review of the applicant’s business financials is necessary for higher bond limits). For instance, if you are in need of a $20,000 Limited Prescription Drug Veterinary Wholesale Distributor Bond, rates start at just $150 for a one-year bond term.

For additional pricing of the available Wholesale Prescription Drug Distributor Bonds, take a look at the price chart below. 

Bond Type and LimitCost
Limited Prescription Drug Veterinary Wholesale Distributor Bond - $20,000 Limit$150
Prescription Drug Wholesale Distributor Bond - $25,000 Limit$188
Prescription Drug Wholesale Distributor Bond - $100,000 Limit$750
FL Wholesale Prescription Drug Distributor Bonds Pricing

To get started with the purchase of either surety bond, simply select the “Quote” button above!

The Prescription Drug Wholesale Distributor Bond and Limited Veterinary Prescription Drug Wholesale Distributor Bond Process With Jet

Applications for either Wholesale Prescription Drug Distributor Bond can be completed online with Jet. To begin, some general information is needed such as your contact details and personal social security number. If you are seeking a larger bond limit (i.e. $50k or higher), a Jet underwriter will give you a quick call to discuss the finances of your business and determine if more information is needed. 

Once the completed application has been submitted and processed, you’ll receive an approved rate that is ready for immediate purchase. All you need to do is fulfill the payment due, and once completed, you’ll receive a copy of your receipt and bond form instantly. 

The Jet team can file your surety bond for you at no extra cost (unless requested to be sent priority overnight). If you would prefer to take care of this step yourself, the option to do so may be selected at check out. 

Both the original signed and sealed Limited Prescription Drug Veterinary Wholesale Distributor Bond and the Prescription Drug Wholesale Distributor Bond forms must be submitted to the Florida Department of Business and Professional Regulation at the following mailing address:

Florida Department of Business and Professional Regulation
Drugs, Devices, and Cosmetics Program
2601 Blair Stone Road
Tallahassee, FL 32399

For license applications and further information regarding paperwork requirements, take a look at the Department’s Division of Drugs, Devices, and Cosmetics webpage.

Read More About the Bond Process

How to Renew My Bond

See how simple it is to renew your bond with Jet.

How to Cancel My Bond

See the details surrounding cancelling your bond.

Bond Claim Process

Wholesale prescription drug distributors should be aware of claim causes and what to do if one is filed.

Florida Wholesale Prescription Drug Distributor Bond Example

Florida Wholesale Prescription Drug Distributor Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: