Ohio Garnishment Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond: Definition, Amount, and Purpose
An Ohio garnishment order allows a plaintiff in a civil litigation proceeding to seize the assets, wages, or accounts of a defendant, prejudgment.
A court-ordered garnishment is similar to an attachment, the exception being that the assets seized by a garnishment order are held by a third party, not the plaintiff.
According to Ohio’s statutes, Section 2715.48 of the Ohio Revised Code, as amended, the amount of the garnishment bond must be two times the value of the items to be seized.
While the garnishment surety bond is required of the plaintiff, its benefit is for the defendant in case the court subsequently decides that the garnishment order should not have been issued.
The harm to the adverse party having already occurred in such a determination, the surety bond is a financial guarantee that the defendant can be compensated for the results of a wrongful garnishment order.
Qualifying and the Premium
Up to a $100,000 surety bond requirement, our agency qualifies and approves you for an Ohio garnishment bond without a credit check.
A garnishment bond requirement greater than $100,000 is subject to approval of your application by a surety bond underwriter. To be approved, good credit is required. Also, you may be asked to provide additional information or documentation as a condition of approval.
For any garnishment surety bond, our agency will need the following from you:
- A copy of the Ohio court order stating that a garnishment surety bond is required;
- A completed application. Our agency will usually provide the application to you via Docusign;
- Review of your completed surety bond application;
- Upon approval, payment of the premium.
Issuing Your Garnishment Bond
Our agency issues your Ohio garnishment bond immediately upon payment of the premium. Included with your bond will be a Power of Attorney form.
Upon receipt of both of these items by mail, you’ll sign your surety bond. You’ll then file it along with the POA form to the presiding Ohio court.
Annual Renewal of the Premium
The premium associated with your Ohio garnishment bond is subject to annual renewals on the anniversary of your bond’s issuance. This will last for as long as the court requires surety.
Premiums paid are earned in full and are nonrefundable.
AmeriPro Surety Bonds is a surety bond only agency which provides contract surety, court, probate, and other surety bonds in Ohio and all 50 states.
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