A recent court appearance, either as Plaintiff, or as legal counsel for the Plaintiff (or both), may have surprised you by a Court Order to obtain an injunction surety bond.
It is quite likely that in learning of this Order, the terms “temporary restraining order” or “preliminary restraining order” were used in the same context.
An injunction bond is required of a Plaintiff, on behalf of a Defendant(s), in case it is subsequently determined by the Court, that the Plaintiff’s cause of action against the Defendant(s) was unwarranted (that is, the action which precipitated the “temporary restraining order” against the Defendant).
The existence of the injunction surety bond allows the Defendant(s) to be financially compensated for loss or harm as a result of the Plaintiff’s actions. Rule 65 of North Dakota’s statutes deals directly with injunctions and the security required.
The amount of your injunction bond required is at the discretion of the court.
For any North Dakota injunction bond amount up to and including a $25,000 surety bond requirement, our agency offers this bond to you without a credit check. You are therefore, essentially, automatically approved.
Regardless of the amount of surety required, however, we’ll need the following:
The premium amount is 2% of the amount required, or $100, whichever amount is greater.
Surety Bond Requirements Greater than $25,000
If you require an injunction bond greater than $25,000, to qualify, in addition to the above, you will submit an application for an underwriter review. A credit check inquiry will also be required.
To be approved, good credit will be required (the rate remains 2%); otherwise, you will likely be asked to place full cash collateral, in addition to the bond’s premium.
Once all documents are received, the bond is approved, and the premium paid, our agency issues your bond to you immediately. We will sign your bond as Surety, and upon receipt you’ll sign your bond as Principal.
Thereafter, you’ll file your completed surety bond with the Clerk of the Court.
The premium associated with your North Dakota injunction bond is not a onetime payment, but renews annually on the anniversary of your bond’s issuance.
It is likely (based on experience) that you’ll pay your premium twice: Once at the bond’s issuance and at least one other time thereafter.
Our agency also offers you the option to prepay your injunction surety bond premium up to 3 years. Doing so will save you over annual renewals; however, you should keep in mind that should your bond be exonerated before the end of your term, no refunds, in full or prorated, will be offered.
AmeriPro Surety Bonds is a surety bonds-only agency. Our agency provides injunction and other court-related surety bonds in North Dakota.
We also provide license and permit, probate, and court-surety bonds in all 50 states.
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