Illinois Writ of Attachment Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amount and Purpose
An Illinois writ of attachment bond (alternately referred to as a ‘plaintiff’s attachment bond’ or just an ‘attachment bond’) allows a plaintiff to seize the disputed property of the defendant, prejudgment.
For the order to take effect, you are required to obtain a surety bond in the amount determined by the court.
According to current Illinois law, the amount of the surety bond required should be at least double the amount of what you claim (735 ILCS 5/4-205) is the value of the property to be seized.
While the attachment bond is required of the plaintiff, its sole purpose is to benefit the defendant in case the court later determines that the attachment order should not have been issued.
The harm having already been effected in a such a determination, the surety bond exists to offer financial recompense for the damages due to a wrongful attachment order.
Qualifying and the Premium
The Illinois writ of attachment bond is offered to you up to a $100,000 surety bond requirement without a credit check.
An attachment order greater than $100,000 is subject to further review of your application by a surety bond underwriter. This review includes a credit check inquiry.
To be approved for an amount greater than $100,000, good credit is required. You may also be asked to provide supporting documents or information as a condition of your approval.
For any Illinois writ of attachment bond, our agency will need the following from you:
- A copy of the Illinois court order stating that an attachment surety bond is required;
- A completed surety bond application. The application can be sent to you via Docusign. Docusign allows you to complete, sign, and return your attachment bond application to our agency electronically;
- Review of your completed application and supporting documentation;
- Upon approval, payment of the premium.
Issuing Your Illinois Writ of Attachment Bond; Filing
The Illinois writ of attachment bond is issued to you immediately upon payment of the premium. Included with your surety bond will be a Power of Attorney form that you’ll also file with the court.
After signing your bond as Principal, you or legal counsel must see to it that it is filed with the court in a timely manner.
Annual Renewal of the Premium
The premium for your attachment bond is subject to annual renewals on the anniversary of its issuance for as long as the court requires surety.
Premiums paid are earned in full and are not subject to refunds, either in part or entirely.
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