Court Surety Bonds
Court bonds are a category of surety bonds that are required of the Plaintiff or Defendant either at the local or state level, and in many cases, by federal statute.
Court bonds are also required of administrators, guardians, or executors of an estate. These latter are also known as fiduciary bonds.
For Plaintiffs and Defendants, such surety bonds may serve as a pre-condition upon which a prohibition of the other party is predicated. For others, the type of court bond may also be required to seize and take possession of property.
Depending on the court bond type, the general idea behind the bond requirement is that some action is allowed prejudgement. However, if the court subsequently determines that the prejudgement action should not have been issued, then the adverse party may have some financial recourse.
Hence, the surety bond requirement.
AmeriPro Surety Bonds is particularly adept with Court ordered bonds required of Plaintiffs and Appellant Defendants in civil litigation proceedings. We also welcome the opportunity to work with law firms, and through your firm, your clients, to quickly comply with the court order.
The court ordered bonds offered by our agency include:
Appeal Surety Bonds: $1,000,000 Floor
Our agency also has an appetite for Defendant Appeal Bonds which are at least $1,000,000. Underwriting criteria for such bonds will include:
For very well-capitalized, financially healthy institutions, our agency may in some cases be able to offer these bonds without a collateral requirement. Typically, however, even if well capitalized, one should expect and prepare to have the appeal bond fully collateralized.
Acceptable methods of collateralization may include a letter of credit.
Fiduciary bonds are the second category of court bonds. These are required when one is appointed as representative of an estate of a decedent. They are also required of conservators and guardians.
Such categories include:
Although our agency may in some cases offer the probate administrator/executor/personal representative bond up to $250,000 without a credit check inquiry, we may ask for attorney representation as a condition of approval. We may also have a 2- year prepayment requirement.
In whatever case, our goal at AmeriPro Surety Bonds is to get you the court bond you require and in a timely manner.