Missouri Sequestration Bond |
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amount and Purpose
A Missouri garnishment or sequestration order allows a Plaintiff, pre-judgment, to take possession of the disputed property of the Defendant, before the final outcome of the underlying case.
As a condition of obtaining the garnishment or sequestration, the Plaintiff must give surety bond in an amount ordered by the court. By statute, this is to be double the amount of the value of the property to be garnished or sequestrated.
The Missouri garnishment or sequestration bond, while required of the Plaintiff, pursuant to Supreme Court Rules 99.06, as amended, serves as a financial guarantee for the adverse party, that should the court subsequently determine that the garnishment or sequestration order was wrongly issued, the Defendant will be guaranteed the return of the property; and that, moreover, any harm or loss will be duly recompensed by the Plaintiff.
Qualifying and the Premium
Our agency offers you the Missouri sequestration/garnishment bond in the amount required of you by the court.
Up to a $100,000 surety bond requirement, we also do so without a credit check inquiry.
An amount greater than $100,000 requires your application to be submitted to an underwriter for further review. This review will include a credit check inquiry. To be approved, good credit is required.
But for any Missouri sequestration/garnishment bond, our agency will need the following from you:
- A copy of the Missouri court order stating that a surety bond is required;
- A completed application from the Plaintiff. We typically provide this application to you via Docusign. This will allow you to complete, sign, and return your application to our agency electronically;
- Review of your completed application according to the amount required;
- Upon approval of your application, payment of at least the first annual premium.
Issuing Your MO Garnishment/Sequestration Bond
Immediately upon payment of the premium, your MO sequestration/garnishment bond is issued to you with an accompanying Power of Attorney form.
These items are then mailed to you for signing and filing by you or legal counsel. We do not need a copy of your signed surety bond.
Annual Renewal of the Premium
You sequestration/garnishment bond is subject to annual renewal of the premium for as long as the underlying Missouri court requires surety.
Your premium renews on the anniversary of your bond’s issuance.
As a preparation, you should plan on paying the premium at least twice: Once when your bond is first issued; a second time one year later on the anniversary of its issuance.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Missouri and all 50 states.
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