Cannabis surety bonds range from $5,000 to $5,000,000. They provide a financial guarantee to states or municipalities that companies will follow laws and regulations tied to their licenses. These bonds work in two key ways: They require companies to undergo financial and credit scrutiny. This ensures leadership is qualified and poses a low risk. If a company violates bond terms and causes financial loss, the state or municipality can file a claim. If valid, the surety pays up to the bond amount and seeks reimbursement from the company. Challenges in Getting Cannabis Surety Bonds Securing cannabis surety bonds isn’t easy.…
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