A Mississippi injunction bond is required of a plaintiff on behalf of a defendant in case it is subsequently determined by the presiding court that the plaintiff’s actions were without merit, and consequently, caused a defendant some harm.
The existence of the bond allows the defendant to be recompensed for monetary loss as a result of the plaintiff’s actions if the court rules in the defendant’s favor. Chapter 13, §11-13-5 of the Mississippi’s statutes addresses this compensatory matter specifically.
Our agency works with both Plaintiffs and/or their legal counsel for a timely filing of this bond.
Up to and including a $25,000 surety bond amount, our agency offers you the Mississippi injunction bond immediately for 2% of the amount required or $100, whichever amount is greater.
We offer the injunction bond up to this amount without a credit check review. In other words:
the court injunction bond is issued to you immediately.
Amounts greater than $25,000, in addition to the above, will have a standard credit score review by an underwriter. Applicants will need good credit to qualify; however, if you are approved, the premium still remains 2% of the bond amount.
In case the required bond amount is especially large, you may also be asked to provide a financial statement as part of the underwriting process.
The premium for an injunction bond is not a onetime payment, but renews on the anniversary of its first issuance.
Options exist to prepay your premium for up to 3 years, which will offer you a savings over year to year renewal of the premium. However, should you choose this premium prepayment option and your case comes to a close before the renewal period, refunds are not offered.
It is typically better to pay this type of bond annually.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide court injunction surety bonds in Mississippi and nationwide.
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