Dealing with an Ohio surety bond does not have to be a bad situation. In fact, a surety bond in Ohio can be more beneficial than harmful. Working with a reputable surety bond company provides the luxury of securing the right bond, without taking up too much time or causing a hassle.
Jurisco provides surety bonds in Cleveland, Columbus, Cincinnati and throughout Ohio. Bond experts are on-hand to discuss surety bonds in Ohio, the application process, bond cost, and to swiftly take care of the situation.
There is a wide range of uses for Ohio surety bonds. For starters, the state mandates them for, among other things, businesses, trustees, and government construction projects. Then the court system uses bonds to cover actions taken by both the plaintiff and defendant. Businesses may also use a bond to protect their interests, the same way an individual can.
When an Ohio surety bond is mandated it is imperative to meet those mandates. Failing to abide by a state law or court order comes with repercussions. In addition to fees and penalties, there could be legal action.
Not sure what the bond requirements are? Let a bond professional at Jurisco help. An Ohio surety bond expert is able to answer any questions and provide advice on which bond is best.
Ohio surety bonds can be divided into four main categories, plaintiff bonds, probate and fiduciary bonds, defendant bonds, and license and permit bond. Jurisco is able to provide expert advice for every type of Ohio surety bond.
The majority of surety bond uses are based in requirement. That doesn’t mean an Ohio surety bond can’t be optional, though. A homeowner hiring a construction company to remodel his/her home may take out a surety bond to protect themselves against property liens. The homeowner isn’t required to do this, but it’s the safer, wiser move to make.
There are also situations where the court can waive the responsibility of a surety bond. However, those cases tend to require the agreement of both the plaintiff and defendant to move forward without a bond.
Regardless of whether the surety bond is required, or just a beneficial preventive step to take, a surety bond professional at Jurisco is here to explain the different options..
Surety bonds tend to be the most cost effective solution. Ohio surety bonds fully cover the required amount, while only requiring payment of a small percentage of the sum. This allows even the largest of demands to be covered. Having these opportunities make a big difference.
Imagine a defendant losing a court case and facing a multi-million dollar judgment. It’s those types of situations that can take out even the most well known businesses. While they appeal the judgement, they can ask for a stay of judgement to delay payment until after the court rules.
Ohio courts commonly require bonds in these situations. Securing an appeal bond serves as a notice to the court that the appeal is of merit and not an attempt to delay payment. This Ohio surety bond allows the defendant to focus resources on the appeal instead of having to pay the judgement and cover all the new court costs.
Jurisco offers same day Ohio surety bond service whenever possible. Contact a surety bond professional at Jurisco today with any questions about bond applications, surety rates, and types of use. Online surety bond applications are available.
Time is always important. It feels even more so when rushing to meet a state mandate or court order. Jurisco takes care of Ohio surety bonds quickly and professionally, so there’s no headaches or messy situations.