The judiciary requires a surety bond to help protect property or money. Some of the most common surety bonds include:
Appeal Bonds (or Supersedeas Bonds) stop judgment enforcements and guarantee payment when appeals are lost.
Attachment Bonds (or Replevin Bonds) help seize the defendant’s
property, which plaintiffs can later sell or transfer.
Injunction Bonds or (Temporary Restraining Order (TRO) Bonds can prevent a defendant from harming a plaintiff’s assets or reputation.
Probate courts require Administrator Bonds or Executor Bonds if someone dies without a will, or if the executor of the estate is not named in the will and/or lives out-of-state. Minors or incompetent adults who receive money need Guardian Bonds to secure their assets. The guardian safeguards assets set and controls expenditures. Eligible bondholders should have good character and credit history.
At Oswald, we work closely with our Lawyers Professional Liability Practice and can provide the expertise needed to complete the task.
Please contact me at Oswald Companies for more information on Surety Bonds.
Note: This communication is for informational purposes only, and is not intended to offer legal, tax, or client-specific risk management advice. Information in this communication is not meant to describe specific coverages that may be advisable or available to you or your company, or to interpret specific coverages that may already be in place. General insurance descriptions in this communication do not include complete insurance policy definitions, terms, and/or conditions, and should not be relied on for coverage interpretation. Actual insurance policies must always be consulted for full coverage details and analysis. View our privacy notice.