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Wisconsin bonds

Wisconsin — Prescription Drug Wholesale Distributor - Partnership Bond

The Wisconsin Prescription Drug Wholesale Distributor bond is a mandatory financial security requirement for entities seeking licensure through the Department of Safety and Professional Services (DSPS). This bond ensures regulatory compliance for businesses operating as wholesale distributors of prescription drugs within the state.

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Recorded state
Wisconsin
Bond type
Pharmacy / Drug Distributor Bond
Category
Healthcare & fitness

What this bond does

This bond serves as a financial guarantee required by the Wisconsin Pharmacy Examining Board to ensure that wholesale drug distributors adhere to state statutes and administrative code provisions. It protects the regulatory interests of the state by providing financial accountability for licensed distributors.

Who needs it
This requirement applies to businesses and partnerships applying for an initial wholesale distributor license in Wisconsin, as well as those undergoing a change of ownership or location for an existing license.
Who it protects
The bond protects the state regulatory authority by ensuring that the licensee maintains professional standards and operational compliance as required under Wisconsin law.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Understanding the Licensing Requirement

Applicants must demonstrate financial responsibility to the Pharmacy Examining Board as part of their general licensure application. The bond is a strictly mandated document that must be submitted through the official state LicensE portal.

The DSPS requires either the Bond of Prescription Drug Wholesale Distributor (Form 2819) or an Irrevocable Letter of Credit (Form 2824). No modifications or exceptions to these state-provided forms are permitted during the application process.

Application and Filing Procedures

To fulfill this requirement, you must initiate your application via the Wisconsin LicensE organization account. The bond form must be uploaded to the 'Supporting Documents' section of your application once completed and signed.

Maintain current application status by monitoring your 'Due Diligence' checklist in the LicensE dashboard. If the document is missing or requires correction, the status will update, and you will be notified via email to provide the necessary information.

Maintaining Regulatory Compliance

Compliance involves ongoing adherence to Chapter Phar of the Wisconsin Administrative Code and Wisconsin Statute Chapter 450. Failure to maintain the required security instrument may impact your credential status with the Department of Safety and Professional Services.

Ensure all designated representative information and business details remain accurate within your LicensE profile. Regular monitoring of your credential status ensures that you remain in good standing with the Pharmacy Examining Board.

Sources

Have these ready

  1. Download the official Form 2819: Bond of Prescription Drug Wholesale Distributor from the AccessGov directory.
  2. Ensure the designated representative listed on your application matches the signatory requirements for the bond.
  3. Complete the bond form in its entirety, ensuring no modifications are made to the standardized text provided by the state.
  4. Scan the executed bond document for electronic upload to your LicensE account under the required documents section.

Questions about this bond

Is there an alternative to the surety bond?

Yes, the Wisconsin DSPS accepts an Irrevocable Letter of Credit (Form 2824) as a substitute for the surety bond.

Can I modify the state bond form?

No, the Department does not approve any modifications or exceptions to the standard Form 2819 or Form 2824.

How do I submit the bond to the DSPS?

The bond must be uploaded as a digital document through your LicensE account 'Due Diligence' or 'Upload Document' section.

Does this bond cover all pharmacy-related activities?

This bond is specific to Wholesale Distributor of Prescription Drugs licensure requirements as defined by the Pharmacy Examining Board.

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