Minnesota Attachment Bond |
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amount and Purpose
A Minnesota plaintiff’’s attachment bond allows this party, prejudgment, to seize the disputed assets or property of the Defendant.
As a condition of the attachment order taking effect, you must procure an attachment surety bond in the amount ordered by the court.
According to Section 570.041of Minnesota state’s statutes, as amended, the court will consider the following factors in determining the amount of the attachment surety bond required:
- The property to be attached;
- How the attached property will be stored or retained;
- The potential harm to the adverse party as a result of the attachment order(that is, the Defendant);
- Any other criteria that the court deems relevant in setting the attachment surety bond amount.
So, while the attachment bond is required of you, the Plaintiff (or, for legal counsel, your client), the potential benefit is for the Defendant in case the court subsequently determines that the attachment order should not have been issued.
In such a determination, the bond would have already occurred to the Defendant; the surety bond, therefore, exists as a remedy — even if only potentially — to such damages.
Qualifying and the Premium
Our agency offers you the Minnesota plaintiff’s attachment bond up to a $100,000 surety bond requirement without a credit check.
An attachment bond greater than $100,000 is subject to further underwriter review of your application. This review will include a credit check. To be approved, good credit will be required.
But for a MN attachment bond in any amount, our agency will need the following from you:
- A copy of the Minnesota court order stating that an attachment surety bond is required. In lieu of the same, a letter from your legal counsel which states the same and provides all of the information that would be found on a court order;
- A completed surety bond application from you. This application can be usually be completed via Docusign. This will allow you to complete, sign, and return your application to our agency electronically.
- Review of your completed application;
- Upon approval of your application, payment of the premium.
Issuing Your Attachment Bond
Our agency issues your attachment bond and a Power of Attorney form to you for filing upon payment of the first annual premium.
These items are then mailed to you. Before filing, you as Principal must sign your surety bond. Thereafter, either you or legal counsel may file your bond to the Minnesota court. Our agency will not need a signed copy of your surety bond.
Annual Renewal of the Premium
The premium associated with your Minnesota attachment bond is subject to annual renewals for as long as the court requires surety.
Premiums paid are earned in full. Refunds are not offered.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, non-construction contract surety, probate, and other surety bonds in Minnesota and all 50 states.
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Or, you may fill out the form below and a Surety Producer will contact you.