West Virginia surety bond requirements are efforts made by the state to protect its residents and businesses from undue harm; especially when it involves money. Residents living in Charleston, Morgantown, Huntington, Parkersburg, and even the smallest of cities in West Virginia, will be faced with the same surety bond mandates when they become involved in court cases, operate a business, bid on public projects, or serve as a guardian.
West Virginia, as with other states, rely on surety bonds because they are a) easy to obtain and b) provide such financial protection that they offer wide-reach coverage. The state legislature authors surety bond requirements, as do judges working in West Virginia court rooms.
A surety bond mandate can impact individuals as well as businesses. Even local governments deal with surety bond. For instance, a road construction project must be bonded properly which means companies bidding need certain surety bonds.
There are four main types of West Virginia surety bonds. A plaintiff bond is used to cover court actions such as injunctions or put a lien on property. Defendant bonds are also used for court actions. A defendant must be bonded to transfer a lien or stay a judgement.
Probate and fiduciary bonds cover actions such as overseeing the execution of a will or overseeing a trust. License and permit bonds are used by businesses including health clubs, mortgage brokers, and travel agents.
The types of West Virginia surety bonds are wide reaching. No matter what the scenario the state continues to rely on surety bonds. This method hasn’t failed the state yet. And with the legal weight a surety bond holds there’s no signs that it will fail them in the future.
West Virginia surety bonds are just part of the process of doing business and upholding the judicial system. While the mandates may be the same across the state, that doesn’t make surety bond providers equal. There’s always bad with the good. One of the best ways to receive a low West Virginia surety bond rate is to work with professionals. Working with surety bond professionals who understand West Virginia surety bond statutes means faster service and no problems.
The lawyer-trained staff at Jurisco are West Virginia surety bond experts.This means they will secure a bond faster than anyone else. It also means they have the nationwide backing to be able to offer the lowest surety bond rate possible in West Virginia.
When you work with professionals you save both time and money. Have questions about how to make that happen? Contact Jurisco today.