[vc_row][vc_column][vc_column_text] What is a Bid Protest Bond? A Bid Protest Bond is a type of surety bond required to guarantee that a protest in the allocation of municipal contracts is not wrongful and will not delay the work on contract for the municipality and vendor. Many times when a municipality accepts bids for contracts, the lowest […]
[vc_row][vc_column][vc_column_text] What is a Lost Instrument Bond? Lost instrument bond is a type of surety bond used as a guarantee to a bank or lender should a financial instrument be lost or destroyed and therefore not redeemable. This can include cashier’s checks, stock certificates, mortgage notes and more. Bond Premiums and Bond Amounts: Premium is 1% of the […]
[vc_row][vc_column][vc_column_text] What is a Lis Pendens Bond A Lis Pendens Bond is a type of surety bond which is required when a plaintiff is seeking to block the sale of a property by a defendant. The bond guarantees that the plaintiff is not filing the Lis Pendens in bad faith. The bond amount varies by […]
[vc_row][vc_column][vc_column_text] What is a Distress or Distraint Bond? A Distress or Distraint Bond is a type of surety bond required by a court when a plaintiff seeks to remove a tenant from a commercial property due to unpaid rents. It is commonly known as a “Distress for Rent”. Bond Premiums and Bond Amounts: Premium is 2% of […]
[vc_row][vc_column][vc_column_text] What is an Injunction Bond? An Injunction Bond is a type of surety bond that covers any damages the defendant may sustain should the court rule the plaintiff’s suit is wrongful thus protecting the defendant from being wrongfully enjoined. Bond Premiums and Bond Amounts: Premium is 2% of the bond amount. Minimum of $250. […]
[vc_row][vc_column][vc_column_text] What is Indemnity to Sheriff Bond? A Sheriff’s Indemnity Bond is a surety bond that protects a law enforcement agency seizing property on behalf of a plaintiff from a defendant should the defendant seek damages against the enforcement agency. Bond Premiums and Bond Amounts: Premium is 1% of the bond amount. Minimum of $100. […]
[vc_row][vc_column][vc_column_text] What is a Cost Bond? A Cost Bond is a plaintiff bond that covers court costs when a party attempts to file action within a state without having residence. Not all states require this surety bond however, when they do it normally is under $2,000. Bond Premiums and Bond Amounts: Premium is 1% of […]
[vc_row][vc_column][vc_column_text] What is a Claim and Delivery Bond and is it Necessary? Also known as a Replevin or Sequestration, Claim and Delivery Bonds are required by statute if the plaintiff seeks to levy property before a judgment is made. The bond guarantees that if the Claim and Delivery is deemed wrongful that the defendant be […]
[vc_row][vc_column][vc_column_text] What is a Sequestration Bond and is it Necessary? Also known as a Replevin or Claim and Delivery Bond, Sequestration Bonds are required by statute if the plaintiff seeks to levy property before a judgment is made. The bond guarantees that if the replevin is deemed wrongful that the defendant be able to collect […]