An injunction bond or restraining order bond is typically ordered when a party, typically a Plaintiff, wishes to prevent a Defendant from performing a certain action.
The court orders the Plaintiff to procure an injunction surety bond in the event that it is later determined that the Plaintiff’s actions or lawsuit against the Defendant were without merit. The injunction bond exists, therefore, to monetarily compensate the Defendant from the loss of activity caused by the Plaintiff’s actions should it subsequently be determined that the Plaintiff wrongly filed suit.
For any Connecticut injunction bond up to and including $25,000, after providing our agency with a 1. ) copy of the Court Order, and 2.) completing a signed surety bond application, the bond can be issued immediately after payment of the premium. Laws concerning injunction surety bonds in Connecticut are discussed under Section 52-472 of state statutes.
What this means for you is that for amounts of $25,000 or less, there is neither a credit check nor an underwriter review involved.
For any amount greater than $25,000, in addition to a surety bond application, an applicant will need to have good credit to qualify for this bond. Applicants who have poor credit standing will not be approved.
It will typically take an underwriter a few hours to review your injunction surety bond application and credit for an injunction bond which is more than $25,000.
Once approved and paid for, the bond is issued to you immediately. A copy of the bond can be emailed to you. The original surety bond, which you will sign as Principal, will be sent to you by the following business day at the latest.
For high amounts, collateral may be required for an injunction bond. This is not always the case. Please call us for details.
The premium for a Connecticut injunction bond will be 2% of the surety bond’s amount.
An additional fact to note is that the premium is not a onetime payment. For as long as the case is being adjudicated, premiums for this surety bond renew annually on the anniversary of its date made active.
AmeriPro Surety Bonds is a surety bonds only agency which provides court bonds and license and permit surety bonds throughout Connecticut.
Our agency also provides surety bonds nationwide.
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