A surety bond can be a very powerful tool whether it is used for businesses or for legal matters. Different types and categories of surety bonds are used in a wide range of services and situations. Whenever a surety bond is required, it is important to take all mandates seriously. When you need a Pennsylvania injunction bond, you must meet the requirements fully and quickly. Luckily, Jurisco is here to help.
A Pennsylvania injunction bond is necessary because it satisfies the court requirement before a plaintiff’s appeal for an injunction can be accepted. As you may imagine, an injunction can be a costly experience for the defendant. Should the plaintiff be seeking for the defendant to end selling a product, for example, that defendant could be faced with losses in the thousands or millions. That’s why courts take the appeal for an injunction very seriously.
Pennsylvania courts require an injunction bond to cover the value of the injunction along with any other mandated fees or court costs. This offers the defendant a recourse should the action later be deemed wrongful.
There are situations where a Pennsylvania injunction bond requirement can be waived. A defendant could agree to the plaintiff’s appeal. Or the judge in the case could waive the requirement without any input from the defendant. In the majority of injunction actions, though, the requirement will be upheld by both the court and the defendant.
A Pennsylvania injunction bond costs are low when you work with a reputable surety bond company. The cost of any surety bond is 2% of the bond's total value - this covers fees, too. That means the cost is extremely low compared to the protection it offers.
Other factors can play a role in surety bond rates, as well. Bad credit scores can make some surety bond rates go higher. That’s why we recommend working with a nationwide surety bond provider like Jurisco so those outside factors are minimized, and low surety bond rates are still possible.
Having the benefit of working with surety bond experts means clients don’t have to deal with long delays. The Pennsylvania surety bond experts at Jurisco are ready to offer same-day service for all types of surety bonds. Secure a Pennsylvania injunction bond fast today. Contact Jurisco with any questions you may have about Pennsylvania surety bonds.