One criterion that both individuals and companies needing a surety bond think about is cost. A surety bond calculator helps determine that cost.
How Surety Bond Rates Are Determined
A surety bond calculator determines the rate of the bond by reviewing a variety of factors. State bonding requirements, the type of bond, credit, and court costs all play a role in setting a bond rate.
The value associated with what the bond is protecting is a key factor. It is essential that the surety bond cover the full value of whatever it is supposed to protect.
A replevin bond rate is determined by the value of the property wishing to be seized in a court action. The rate for a garnishment bond is set, in part, by the value of wages to be garnished by the plaintiff. Even the rate of an administrator bond is based on the worth of the estate the administrator is overseeing.
Generally, the surety bond calculator will find a rate between 0.5 percent and 2 percent of the overall bond value.
Different Types Of Bonds
There are four main types of surety bonds including plaintiff bonds, defendant bonds, license and permit bonds, and probate and fiduciary bonds.
License and permit bonds, along with probate and fiduciary bonds, are the type of surety bonds that must be obtained before any business or individual can serve a particular function.
Missouri Department of Revenue includes a surety bond calculator on its website to help businesses determine their surety costs.
The other types of bonds such as the plaintiff and defendant bonds only come up when certain actions need to be taken.
Receive A Low Surety Bond Rate Today
At Jurisco, surety bond experts work with clients to explain the different type of bonds and their rates.
Working quickly, experts find the best rates for surety bonds. They take the time to answer any questions about the surety bond calculator and discuss ways to lower rates.
Review the surety bond calculator rates now then start the surety bond application online. Jurisco is always cost effective.
“How much does a court bond cost?” is always one of the first questions we hear at Jurisco. Discussed in several blogs, and throughout the website, we know our clients want to know all the surety bond facts, definition, uses, state guidelines, and price. Today, we will go a little more in depth about court bond amounts in Georgia for those needing bonding in the Peach State. (Of course, a Jurisco surety-bonding expert can provide more information about estimated costs and fees in other states).
Surety bond cost varies depending on the type of court bond required for the defendant and plaintiff. In Georgia, bond amounts are determined by the courts, with the presiding judge having the final say on how much a surety bond will cost. On average, court bonds carry standard risk with prices between 1% and 2% of the bond amount.
The type of court bond plays a big role as well. For instance, the amount of the money judgment will affect the cost of an appeal bond. How much was the money judgment worth? Is this against a giant pharmaceutical company or between two individuals? Since the judgment amount is always fluctuating, it is hard to have a baseline price court bonds.
Believe it or not, the location of the presiding court could also cause the court bond amount to increase. Cases heard in Atlanta, for example, are typically larger cases than heard in Columbus, GA. There may be additional court fees as well given the size of the city.
A surety bond calculator helps compare all these factors to figure the court bond amount for each client. Unlike other surety bond companies, Jurisco understands that each case is unique. While there may be similarities in bond uses, we can always save our clients money by knowing the details. We know our clients would rather stay near the 1% range if they could rather than the 2% mark. To find out how much your court bond cost in Georgia, contact Jurisco today.