Plaintiff Bond | Court Bond | AmeriPro Surety Bonds: 844-589-9732
What is a Plaintiff Bond or a Plaintiff Attachment Bond?
A plaintiff bond is a type of court bond. When required by the court that is overseeing a case, this bond guarantees that in case the defendant prevails in the lawsuit, the plaintiff will compensate the defendant for any losses or damages caused by plaintiff litigation.
Amount of the Plaintiff Bond:
The amount of the plaintiff bond will be determined by the court. There is no fixed amount. The court will determine the amount of the plaintiff bond required.
Purchasing a Plaintiff Bond
AmeriPro Surety Bonds will work with you and any legal counsel retained to quickly obtain your plaintiff bond.
A plaintiff bond will typically require the following:
- A Credit Check
- This bond must also be fully collateralized.
Collaterizing this surety bond means that the amount needed to obtain this bond will be required in cash; or, at the least, by an Irrevocable Letter of Credit from your banking or financial institution in the same amount.
In addition to the foregoing, there will also be a premium required for the bond. The premium for this bond will renew on an annual basis for as long as the case remains active. The premium will in large measure be determined by the credit score.
3 Sides to a Plaintiff Attachment Bond
The plaintiff attachment bond will have three sides as all surety bonds do.
The principal is the also the plaintiff who is being required to purchase the surety bond. It is likely that YOU are the principal or counsel for the plaintiff.
The second is the obligee. The obligee is the court acting on behalf of the defendant. The obligee is the person (or court) who is requiring the plaintiff (or principal) to purchase the bond on behalf of the defendant.
Finally, there is there is the surety, which is the entity which has the financial stability to issue the plaintiff bond which will be filed with the court.
In short, the principal will purchase the plaintiff surety bond as required by the obligee through a surety company.
AmeriPro Surety Bonds
AmeriPro Surety Bonds understands and appreciates the urgency in obtaining your plaintiff attachment bond. We write this bond–or just about any surety bond.
AmeriPro Surety Bonds provides surety bond services for all 50 states. Call us today at 844-589-9732.