Details for Commission claims and coverage periods

The Commission's current forms page separately lists dispensary and cultivation performance bonds. The dispensary model uses $100,000 and describes the approved license and Arkansas-law obligations. Its revocation-related damages include replacement-dispensary costs, closing and cleaning the site, remaining-product destruction, unpaid ABC penalties and outstanding DFA-account tax liabilities. Read these defined damages rather than assuming general patient-loss or property coverage.

The form distinguishes the one-year license effective period from a claims-made coverage period. Coverage ordinarily ends thirty days after that effective period expires, but ends one year after revocation if the license is revoked. Use the actual approved dates; a calendar-year assumption could produce the wrong claim period.

The model also requires a documented, itemized claim by certified mail within thirty days of the event and states a separate one-year court-action limit measured from coverage-period expiration. Those are different deadlines, and the form treats late event documentation as a waiver. Confirm the actual accepted terms without treating the longer period as an extension of the shorter one.

Surety cancellation is available on ninety days' written notice to the principal and Commission before ABC initiates revocation action. The form excludes the stated damages from surety cancellation, nonrenewal or inability to replace the bond. It permits additional one-year terms evidenced by continuation certificates. Coordinate the actual license, bond and continuation documents with the Commission.