COURT BONDS
S Philips Surety & Insurance Services is a Nationwide Supplier of Surety Bonds
A Court Bond is a general term used for all surety bonds that are needed by individuals when they are involved in pursuing an action through a court of law. Court bonds can be divided into two main categories: Judicial Bonds and Fiduciary/Probate Bonds.The main difference is that a Judicial Bond promises payment of sum of money that would be required in a court case, while a Fiduciary Bond only promises faithful and honest performance of a duty.
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“What Is a Surety Bond In Court?” and Other Frequently Asked Questions
A court bond guarantees that a person will honor certain obligations. You can learn more about these bonds in the FAQ section below.
When is a court surety bond used?
These bonds are often used in various legal situations when a person is required to fulfill certain financial obligations. They are often employed in the following cases:
- Criminal cases,
- Appeals,
- Probate proceedings,
- Civil lawsuits, etc.
What are the different court bond types?
Because court bonds are used in several court proceedings, they are known by different names. Ultimately, the bond type you need will depend on your legal situation and the relevant court rules. Here are some of the most popular types of court surety bonds:
Appeal Bonds
An appeal bond, also known as a stay or supersedeas bond, is used to ensure that if a defendant appeals a court decision and their appeal is unsuccessful, they will honor the commitments of the original judgment. By posting this kind of court bond, a person making the appeal can effectively delay the enforcement of a particular judgment until the appeals process has been concluded.
Probate Bonds
Also known as fiduciary bonds or estate bonds, these surety bonds are used in probate cases to ensure that the administrator or executor is handling their duties properly. A probate bond acts as a guarantee that this individual will act in the best interest of those they represent and distribute assets responsibly.
Guardianship Bonds
When a guardian is required to manage the finances or possessions of a minor, they will be required to have a guardianship bond to ensure that they do this responsibly.
We offer a wide range of court bonds, so contact us for a quote!
Why should I choose S Philips Surety & Insurance Services?
- We offer thousands of different types of surety bonds, so whether you require fiduciary bonds, appeal bonds, or guardianship bonds, you can count on us.
- Our company has been around for nearly 40 years, so we bring lots of experience and expertise to the table.
- We are committed to ensuring that you have the information you need before you invest in court bonds, so you can contact us, and we will gladly provide more insight.
Should you require more information about our services, please do not hesitate to get in touch with us.
How much will a court surety bond cost?
The truth is that the cost of court bonds varies greatly, depending on a variety of factors, such as the bond type, the bond amount, the creditworthiness of the principal, and more. It’s best to fill out the form below to get a quote for a more accurate picture of what to expect for your court bond.
What happens if the principal fails to fulfill his or her obligations?
The obligee may file a claim against the surety bond in court if the principal breaches their commitments, and the surety company will reimburse the obligee up to the bond amount if the claim is legitimate and complies with the requirements.
We may then ask the principal to pay back the money, depending on the terms of the agreement.
How long does a court surety bond remain in effect?
The duration of a court bond will depend on the legal proceedings involved and court requirements. Some will remain in effect until the case has ended, while others have an appointed timeframe. It’s best to talk to us if you require more information about the duration of your court surety bond.
If you haven’t found the answers to your questions here, you can contact us, and we will gladly provide the information you require.
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