Which Type of Michigan Surety Bond Do You Need?

December 21, 2017 by · Leave a Comment 

Determining which Michigan surety bond is right for you doesn’t have to be a headache. Surety bonds are used in a variety of situations throughout the state. From the big cities to the small towns, a Michigan surety bond is often the right solution. And Jurisco is here to help make sure you have the solution that’s right for you.

What Are the Types of Michigan Surety Bonds?

Michigan surety bonds are used in a variety of situations including legal cases and financial guardianship. The four main types of Michigan surety bonds are plaintiff bonds (i.e. garnishment bond, attachment bond), defendant bonds (i.e. appeal bonds, transfer of lien bond), probate and fiduciary bonds (i.e. administrator bond, curator bond), and license and permit bond (i.e. health club bond, mortgage broker bond).

You’ll find surety bonds in use throughout the state be it Kalamazoo, Detroit, Ann Arbor, Grand Rapids, Lansing, Warren..and all the towns and streets that pull Michigan together. Surety bonds protect consumers from businesses, they cover court action, and they serve to offer protection to those who are vulnerable.

Why Does Michigan Require Surety Bonds?

The state of Michigan and its court system rely on surety bonds because of their legal simplicity and might of force. A surety bond offers a backstop to wrongful action be it from a person who is the guardian of a cousin, the trustee of a million dollar estate, or the owner of a health club. The state doesn’t want consumers or residents to become targets for unlawful behavior. The courts use a Michigan surety bond for the same reason. A Michigan surety bond is the perfect recourse.

Are There Penalties for Not Using a Surety Bond?

When a Michigan surety bond is required it is imperative that the requirement is met. There scenarios where the mandate is waived either by a judge or by a joint proposal from both the plaintiff and defendant. Failing to meet requirements could result in legal fees, and other costly setbacks. For example, if a travel agent isn’t properly bonded they may be forced to shut down until the proper bond is obtained and the decision is appealed. This delay could be even costlier than the court fees to deal with the decision.

Who Can Help With Michigan Surety Bond Advice?

The Michigan surety bond experts at Jurisco are well-versed in the mandates, operations of surety bonds. The lawyer-trained staff is ready to help clients better understand the process so they can receive the best experience possible. Securing a Michigan surety bond fast and at the lowest bond rate is one of Jurisco’s specialties.

Contact Jurisco today with your questions about Michigan surety bonds. Jurisco is here to help you get the most out of your Michigan surety bond experience.

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