An Oregon receiver bond is required when mandated by a court in which litigation takes place. AmeriPro Surety Bonds understands the urgency and the time constraints in having the bond filed with the court. Contact AmeriPro Surety Bonds today at 844-589-9732.
Oregon Receiver Bond | AmeriPro Surety Bonds | 844-589-9732
AmeriPro Surety Bonds provides residents of Oregon --- and everywhere else in the country --- with a required receiver bond as mandated by court for the protection of the plaintiff.
Oregon Receiver Bond
An Oregon receiver bond, or even a receiver bond in general, is:
A surety bond which is mandated by a court, or by a court at the request of a plaintiff;
A surety bond which guarantees that the receiver (or the defendant) of property, money or goods will hold the goods in a proper fiduciary capacity (which means that the receiver will not squander the property in question or misuse the goods entrusted to their care);
Guarantees that should the property be misused, the plaintiff will be able to recover any and all losses by filing a claim on the Oregon receiver bond up to the bond’s face amount.
Premium for an Oregon Receiver Bond
The premium, or amount required for an Oregon receiver bond will be determined by several criteria:
The amount of the Oregon receiver bond;
Depending on the amount of the receiver bond required, an applicant’s financial statement (particularly if the receiver bond is for a high dollar amount);
The applicant’s credit score (AmeriPro Surety Bonds, as do most sureties, frankly, uses a “soft pull” credit check which does not lower your credit score);
Whether the receiver bond is paid for one year or prepaid up to 5 years (there is a savings for prepaying multiple years over paying annually).
The premium renews on an annual basis, if not prepaid, for as long as the case is being adjudicated.
The Oregon Receiver Bond: It is not Insurance
You may be reading this page after learning that a court requires you or your client to obtain an Oregon receiver bond as a condition for the court proceedings to continue.
Surety bonds have three “parties” or sides to the contract.
This is different from insurance, where, generally, there are only two parties ---the insurance company and the policyholder.
For a receiver bond:
There is the principal who is the individual (defendant) required to obtain the receiver bond.
There is the obligee, in this case the plaintiff. The plaintiff, via court order, requires the principal to obtain a receiver bond.
Finally, there is the surety. The surety has the financial wherewithal to make payment on any claims on the receiver bond should this be required.
Unlike insurance, though, any claims paid on a receiver bond must be reimbursed in full, including costs and fees, by the principal; in this case, the person (defendant) who purchased an Oregon receiver bond.
About AmeriPro Surety Bonds
Perhaps seemingly "out of the blue" you or your client were informed that you are required to obtain a receiver bond --- and, truthfully, you weren’t given all that much time to purchase one and have it filed with the court.
You may not have even heard of what a receiver bond is before now.
Maine Bureau of Insurance License Number PRN350896 AmeriPro Surety Bonds, LLC; CA DOI License 0N14984 In California, AmeriPro Surety Bonds LLC, DBA AmeriPro Surety Bonds & Insurance Services, License 0N14984