Nevada Pharmaceutical Wholesaler Bond Guide
In Nevada, most pharmaceutical wholesalers must file a surety bond to register with the State Board of Pharmacy.
Bond Overview
- Purpose: To protect the public from fraudulent or negligent pharmaceutical wholesale practices
- Who Needs It: Non-publicly-traded pharmaceutical companies in Nevada
- Regulating Body: The Nevada State Board of Pharmacy
- Required Amount: $25,000 or $100,000
- Premium Rates: Credit-based, typically around 1%
Keep scrolling to learn more about the bonding process.
What Is a Nevada Pharmaceutical Wholesaler Bond?
This surety bond holds pharmaceutical wholesalers accountable for following state regulations regarding the handling, distribution and quality of medications.
The Nevada State Board of Pharmacy requires this license and permit bond to receive a pharmaceutical wholesaler license in Nevada.
How Much Bond Coverage Do I Need?
Nevada pharmaceutical wholesaler bonds are available in either $25,000 or $100,000 coverage. If your company qualifies as one of the following, you only need a $25,000 bond:
- Accredited by the National Association of Boards of Pharmacy under the Verified-Accredited Wholesale Distributors (VAWD) program
- A manufacturer of prescription drugs
- A facility that distributes prescription drugs manufactured by a single manufacturer
All other licensees need $100,000 in coverage.
How Much Do Pharmaceutical Wholesaler Bonds Cost in Nevada?
Nevada pharmaceutical wholesaler bond premiums are credit-based and typically cost around 1-2% of the total bond amount. For example, qualified applicants often pay just $250 for $25,000 in coverage.
Exact rates vary depending on the bond amount and financial qualifications. Select your amount below to get a personalized quote.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Nevada Pharmaceutical Wholesaler Bond Work?
A Nevada pharmaceutical wholesaler bond is a legal contract between three parties:
- Principal: The pharmaceutical wholesaler purchasing the bond
- Obligee: The Nevada State Board of Pharmacy requiring the bond
- Surety: The provider issuing the bond
Under this contract, you, as the principal, promise to uphold all applicable licensure regulations per Nevada Revised Statue Chapter 639.
If you break these terms, harmed parties can file claims on the bond. The surety will validate and pay claims up to the full bond amount. However, you are ultimately responsible for refunding the surety.
Who Needs a Pharmaceutical Wholesaler Bond?
All non-publicly-traded pharmaceutical wholesale corporations, partnerships and sole-owners must file either a $25,000 or $100,000 surety bond for licensure in Nevada. Publicly-traded companies are excluded from this requirement.
Under Nevada Revised Statue 639.515, you can submit one of the following instead of a surety bond:
- A federal or state bond as collateral
- A letter of credit
- A savings certificate, certificate of deposit or investment certificate
However, a surety bond is often the most affordable option requiring only an upfront premium and no collateral. Learn more about surety bonds vs. letters of credit here.
How Do I Get a Pharmaceutical Wholesaler Bond in Nevada?
SuretyBonds.com provides the fastest and easiest way to get a pharmaceutical wholesaler bond. Just follow these simple steps:
- Apply Online: Select your coverage amount and enter your information to receive a personalized quote
- Pay Invoice: Complete your purchase online or over the phone
- Receive Bond: Receive your official bond form via email or mail, depending on your coverage
Upon receipt, sign and file the bond documentation with the Board.
How Fast Can I Get My Bond?
SuretyBonds.com issues pharmaceutical wholesaler bonds faster than any other provider. We process most bond applications same-day. Apply now to receive your free quote within one business day or less.
We deliver bonds with $100,000 coverage via email minutes after processing and mail $25,000 bond forms via FedEx. Select overnight shipping for faster delivery.
How Do I Renew My Pharmaceutical Wholesaler Bond?
Pharmaceutical wholesaler bonds expire annually. When you work with SuretyBonds.com, we’ll send you reminders before your bond expires. All you need to do is pay your renewal invoice to maintain coverage.
The surety can cancel the bond term by providing 30-days written notice to the Board.
How to Become a Pharmaceutical Wholesaler in Nevada
The Nevada State Board of Pharmacy oversees licensure for pharmaceutical wholesalers in the state. To apply, you must submit the wholesaler application form and all supporting documentation. You’ll also need to pay the $1,000 application fee via check or card.
The Board reviews applications during their monthly meetings. The meeting schedule and application deadlines can be found on their website.
