Court Bond Questions
What is a Court Surety Bond?
A court surety bond protects a person or company against potential losses during a court proceeding. Many courts require bonds to be posted in connection with various legal proceedings such as:
- Estate & Probate / Administrator Bonds {Please link to the Estate & Probabte questions below}
- Guardianship Bonds {Please link to the Guardianship questions below}
- Appeal Bonds {Please link to the Appeal Bond questions below}
- Trustee Bonds {Please link to the Trustee questions below}
- Temporary Restraining Order Bonds {Please link to the TRO questions below}
- Release of Lien Bonds {Please link to the Release of Lien questions below}
- Replevin Bonds {Please link to the Replevin questions below}
Apply for a Court Bond Here.
What is an Administrator / Estate & Probate Bond?
Administrator / Estate & Probate Bond are interchangeable terms for bonds required of individuals appointed by a court to close out an estate. The bond guarantees that the estate will be probated, the assets sold, the debts paid, the residual distributed among the heirs and that the required forms are completed to properly close out the estate.
Apply for an Estate Probate or Administrator Bond Here.
How do I get a Probate Bond? Can I get a Probate Bond with poor credit?
The Service Insurance Company issues Probate Bonds and will evaluate each case on its own merits, even if the applicant has a low credit score. Factors we will consider when underwriting a Probate Bond are the character and credit of the applicant, the complexity of the estate and whether there are ongoing disputes concerning the estate.
Apply for a Probate or Administrator Bond Here.
What are Guardianship Bonds? Does The Service Insurance issue Guardian bonds?
Guardianship Bonds are Surety Bonds provide protection for those that are not able to administer their own affairs such as minors or incapacitated people. A court appointed guardian must help to provide care and manage the financial affairs for those individuals and provide accountings as required by the court. The Service Insurance Company issues Guardianship Bonds.
Apply for a Guardianship Bond Here.
What is an Appeal Bond?
Before courts agree to hear a case on appeal, a party is often required to post an Appeal Bond in the amount of the judgment, or in some states, the amount of the judgment plus costs. The Appeal Bond guarantees that the original judgment will be paid in full plus costs, including interest if the appeal is denied. Appeal bonds are typically written with cash collateral. Detailed financial statements are required. Collateral may be waived or reduced depending on the financial condition and credit of the applicant.
Apply for an Appeal Bond Here.
Is cash collateral always required when posting an Appeal Bond?
In most cases cash or bank letter of credit is required for collateral for Appeal Bonds, but from time to time The Service Insurance Company will waive collateral requirements depending on the financial resources and credit of the applicant or principal. Detailed financial information will be required.
Apply for an Appeal Bond Here.
What is a Trustee Bond?
A Trustee Bond guarantees that a Trustee administers the assets and property according to the terms of a trust and according to the law.
Apply for a Trustee Bond Here.
What are Temporary Restraining Order (TRO) Bonds?
TRO Bonds are required when a restraining action occurs. Cases may involve intellectual property customer lists in where an action is started to restrain a former employee from using prior customer lists. If the court decides that the restraining order should not have been granted, the principal on the bond will be required to pay back court costs and damages which relate to the restrained party incurred. Detailed financial information is required as part of the underwriting for this class of bond.
Apply for a TRO Bond Here.
Does The Service Insurance Company Issue TRO Bonds?
The Service Insurance Company, Inc. issues TRO Bonds.
What is a Release of Lien Bond and does The Service Insurance Company issue them?
A Release of Lien Bond is typically issued when a property owner has a dispute with a contractor over a payment and/or materials provided due to the contractor. The Release of Lien Bond allows for the property owner to discharge the lien and legally sell the property while dispute over the payment is adjudicated. The Service Insurance Company issues Release of Lien Bonds.
Apply for a Release of Lien Bond Here.
What are Replevin Bonds? Does The Service Insurance issue Replevin Bonds?
Replevin Bonds are required when there is a legal dispute over property held by or wrongfully taken by another party. Replevin bonds allow for the parties involved in the dispute to adjudicate the matter. If the replevin action was improper, the principal on the bond must pay court costs and other costs and damages associated with the replevin action. The Service Insurance Company will require detailed financial statements as part of the underwriting on this type of bond undertaking. The Service Insurance Company issues Replevin Bonds.
Apply for a Replevin Bond Here.
