An injunction bond is a type of court surety bond where the Plaintiff, by order of a court, purchases a surety bond in the name of the court, on behalf of a Defendant(s). The bond is required because the Plaintiff is attempting to restrain or place an injunction on some activity of the Defendant.
The injunction bond is required in case it is later determined that the Plaintiff’s injunction against a Defendant was without merit. If this is so determined, the Defendant is allowed to file a claim against the surety bond for loss and harm due to the Plaintiff’s actions.
For any Delaware injunction bond up to and including a $25,000 surety bond requirement, you are automatically approved, without a credit inquiry. The premium will be 2% of the amount required, or $100, whichever amount is greater.
What we will need for any injunction bond are all of the following:
Injunction Bond Requirement Greater than $25,000
For an injunction bond greater than $25,000, even if by $1, we will also conduct a personal or business credit inquiry. To be clear, good credit will be required for approval; and the same 2% rate is applicable.
After your bond has been approved and payment of the premium received, our agency issues your injunction bond to you immediately. Your original bond, along with a Power of Attorney form, will be sent to you for signing as Principal and filing with the presiding court.
The premium associated with your Delaware injunction bond is not a onetime payment, but renews annually for as long as the court requires a surety bond.
Options exist and may be presented to you to prepay your injunction surety bond up to 3 years. Doing so saves you over annual renewals of your premium, and lengthens the time between renewals. However, should your case be resolved before the end of your bond term, prorated refunds will not be offered.
Purpose Of Your Surety Bond Requirement
Delaware Rule 65 (c) (page 57), states under “Security”, that your surety bond is purposed for “...the payment of any costs and damages as may be incurred….by any party who is found to have been wrongfully enjoined or restrained.”
AmeriPro Surety Bonds is a surety bonds-only agency. We provide injunction surety bonds nationwide.
Our agency is also a provider of license and permit, probate, and other surety bonds in all 50 states.
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