An injunction bond is also referred to as a “temporary restraining order” or “preliminary injunction”.
The bond is required of a Plaintiff in a legal proceeding, who purchases it on order of the court, on behalf of a Defendant.
The court will determine the amount of surety bond required. In order for us to complete your injunction bond, our agency will need a copy of the court’s order stating the amount of bond required. This order will also provide us with other needed information (i.e. the name of the presiding court and their address).
For a North Carolina injunction bond up to and inclusive of a $25,000 surety bond amount, our agency offers the bond to you immediately, and without a credit check inquiry. We will need the following from you:
The premium for the bond is 2% of the bond’s amount, with a minimum $100 premium.
For an injunction surety bond greater than $25,000, the following are required:
The premium, upon approval with good credit will be 2% of the bond’s amount, annually.
The premium payment associated with a North Carolina injunction bond is not a onetime payment; instead, it renews annually on the anniversary of the bond’s issuance.
Options exist for all amounts to prepay your bond for up to 3 years. What this does for you besides lengthening the time between renewals is that it offers you a savings over annual renewal of your bond’s premium.
You should bear in mind, however, that should your bond be exonerated after payment of any premium amount, no refunds will be offered.
The bond is required of you (or your client) as Plaintiff in case it is eventually determined by the presiding court that the Plaintiff’s actions caused the Defendant some undue harm. The bond exists to compensate the Defendant up to the bond’s amount. Please see Rule 65 for more details.
However, the bond is not insurance; it is a financial guarantee which is more akin to an extension of credit. Any payment made by the surety must be reimbursed by the Principal.
AmeriPro Surety Bonds provides court injunction bonds throughout the country. We also provide license and permit bonds of all types nationwide.
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