What is a Court Bond?
A court surety bond ensures you will fulfill your responsibilities as ordered by law, state, or federal courts. These bonds can be required for a variety of reasons including: appeal, guardianship, fiduciary
Appeal - guarantees that the Principal will pay the Obligee the amount of any Judgment plus costs and interest owed as a result of a verdict from a lower court while the Principal pursues an appeal of the verdict through the judicial system. Should the verdict be overturned and vacated the bonds is exonerated. If the judgment is enforce then the Principal will owe the amount in the original verdict.
Probate – Guardianship (minor or disabled person) - guarantees the faithful performance of an individual appointed by the court to administer the affairs of a minor or someone who is unable or unfit to care for themselves.
Probate - Fiduciary or Executor of an estate - guarantees the faithful performance of an individual appointed by the court to administer the finances of an estate as outlined in their will or trust. If the person dies without a named executor, then they will appoint someone. These bonds are filed with court as the named Obligee, but generally run for the benefit of anyone with an interest in the assets of the entities being administered.