Medical Marijuana Treatment Centers (MMTCs) Required when: Within 10 business days after being notified that the Florida Department of Health has approved the applicant as a medical marijuana treatment center. Exemptions: In lieu of the performance bond, the applicant may provide an irrevocable letter of credit payabl…
Overview
What it is.
Medical Marijuana Treatment Centers (MMTCs) Required when: Within 10 business days after being notified that the Florida Department of Health has approved the applicant as a medical marijuana treatment center. Exemptions: In lieu of the performance bond, the applicant may provide an irrevocable letter of credit payabl…
Who usually needs it
Medical Marijuana Treatment Centers (MMTCs)
Pricing & timing
What to expect.
Generic pricing
Performance bonds guarantee that a contractor will complete a project according to the contract terms. Typical Pricing:. • Small contracts: Commonly around 1–5% of the contract value (one-time upfront premium). • Larger contracts: Rates generally scale lower as contract size increases. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. • Full underwriting required: Credit, financials, experience, and bon…
Typical timeframe
Full underwriting required — typically 3–5 business days
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateFLBond amount$5,000,000Term length2 yearsObligeeFlorida Department of Health, Office of Medical Marijuana UseRenewalThe bond must be maintained for the duration of the 2-year approval cycle and renewed biannually in conjunction with the MMTC license renewal.Bond classPerformance BondCategoryHealthcareBondPerformance BondStatutory referenceFlorida Statutes § 381.986(8)(b)7.JurisdictionState
