A “court bond” is a general term that encompasses several different types of bonds that a court may require under various circumstances. Individuals or entities may be asked to post such bonds in order to guarantee their financial strength and trustworthiness.
Judicial Bonds are used when entering into a civil proceeding. The purpose of a Judicial Bond is to ensure you can pay the costs in relation to the legal action.
There are three types of Judicial Bonds:
Release of Lien Bond – a bond that is to help provide an inexpensive method for material suppliers/contractors to secure the value that has been added to the property owed to them. The bond amount is generally issued at a percentage over the lien amount and is determined by the court. Typically collateral will be required to secure the obligation.
Make application here and include any financial information along with your application. We will respond with our terms and the price for the bond.
Appeal Bonds – typically required in a court of law when a defendant wants to appeal a ruling to a higher court while delaying the payment of a judgement. They are to hold the defendant liable for court costs should their appeal be unsuccessful. If the higher court upholds the lower court’s decision, the Appeal Bond guarantees the defendant will pay the judgment, interest, court costs and attorney fees.
You will not have to pay the entire bond amount to get bonded.
Typically collateral will be required to secure the obligation.
Make application here and include any financial information.
Keep in mind…A copy of court documents are required.
Fiduciary Bonds are a legal instrument that essentially serves as insurance to protect beneficiaries, heirs, and creditors when a fiduciary fails to perform honestly or competently. A court may require a fiduciary bond for any person or party that has fiduciary duty or responsibility to another. In general, a fiduciary is someone who owes a duty of loyalty to another to protect the interest of another.
Types of Fiduciary Bonds:
Custodian/Guardianship Bond – are required from persons who have been assigned by a court to take care of finances and other matters, for individuals that are incapacitated to do so themselves. Usually this means minors, disabled, or elderly persons. Give us a call to discuss.
Probate Bond – are designed to protect the estate of the deceased from incompetence, fraud and other bad actions by the estate’s executor.
VA Fiduciary Bond – these bonds are sometimes required from someone who is appointed to manager Veteran Affairs (VA) benefits on behalf of a veteran who is unable to do so. If the funds managed exceed $20,000 the Department of Veteran Affairs might require the fiduciary to post a surety bond to ensure proper handling of these funds. If the fiduciary uses fraud or misuses the beneficiary’s funds in any way, a claim can be filed against their bond to provide quick compensation for the losses incurred.
Cost of Court bonds is dependent on several factors:
- Type of Bond
- Required Bond Amount
- Personal Credit
Since 1945 AAA Surety has served the Dallas Fort Worth area writing court bonds in the following Counties and beyond:
Dallas, Tarrant, Collin, Parker, Ellis, Rockwall, Travis, Hunt, Hill , Kaufman, Hood, Henderson, Navarro, Johnson, Wise, Denton, Grayson & Van Zandt.