Cannabis is a naturally occurring plant; although its growth is generally restricted to warmer climates.    What you may not have realized is that there are actually several different species of cannabis.    The most important two are:Image result for cannabis collection law

Cannabis Sativa – this plant has a number of uses including industrial fiber, seed oil and in food.   It is also the one responsible for mood altering and is used as medicine in various places of the world. 

  1. Cannabis Indica – this also offers a recreational high and is used as medication.   However, this type of cannabis is generally seen as the one that will make you feel stoned.    Sativa generally provides a feeling of being high.

Cannabis is often referred to as weed or marijuana.    The drug as you may know it is a dried and crushed version of the flowers from this plant.    If you prefer to crush the entire plant it is generally referred to as hash.

The Cannabis Collection Law 

In many states and countries cannabis is considered illegal.    However, there has been a movement in recent years to eliminate this legislation.    This is because the medical effects of the plant are now being shown to be true.

This has led to at least eight states in the US making recreational marijuana legal.    This industry had legal sales of £6.6 billion in 2016; by 2025 this is predicted to be in excess of £24 billion!

Where this substance is legal you can purchase it from specialized shops; providing you are 21 or older.    It is worth noting that you can only smoke marijuana at home; it is not allowed anywhere in public.

There are many laws regulating the sale of cannabis and the use of cannabis, however, one of the biggest problems that most regulated and approved cannabis suppliers are facing is the lack of banking facilities.

The Issue 

Despite cannabis being made legal in some states, federal laws still see it as an issue.    This means that banks are wary about providing cannabis suppliers with accounts; it could get them into trouble with the Feds.

In effect, a genuine, licensed cannabis supplier is forced to deal in cash.    This leads to an issue if the firm wishes to collect funds owed; it cannot resort to the same conduct as the black market suppliers.

The Result 

A whole new area of expertise has arisen, the cannabis collection law agencies.    These firms specialize in collecting outstanding debts from your clients.    Many of these firms work on a no win no fee basis.    The idea is that they have specific knowledge of the cannabis industry which will help them to locate the relevant people in a very short space of time.    This knowledge is backed by a sound understanding of general collection principles to provide firms with the best opportunity to regain their funds.

The other side of the cannabis collection law is the increased revenue that these businesses are pumping into the US government.    Taxes are due on legal cannabis sales; these must be paid to the government and have proved to be a significant money spinner.    This is one thing which is predicted to grow massively in the next few years; making it a win-win scenario for the government.

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