A Court Bond is a guarantee required by Statute or Court Order for the benefit of another person, company, public, state or federal entity, otherwise known as the Obligee. They are filed in connection with litigation by a Principal as specified by the Court. The Principal can be the Appellant, Plaintiff, Defendant, or anyone who seeks Court intervention; the bond protects the Obligee from loss as a result of the ensuing litigation.
A Fiduciary is someone who, under the jurisdiction and supervision of a Court, administers property held in trust. The Fiduciary is generally required by law to provide a Surety Bond. This guarantees faithful performance and compliance with Court Orders. A Surety Bond does not serve as coverage for the Fiduciary, but rather as protection for the heirs, incompetent, creditors, etc.
Bankruptcy Bonds may be written for Trustees, Plan Administrators, Disbursing Agents, Assignees, etc. These bonds are required by the Court or under a confirmed plan in operating and liquidating bankruptcy cases to ensure "faithful performance of duty". They protect creditors from deliberate acts of dishonesty of the Trustee or fiduciary.
We have specific expertise in depository bonds.
Our national Bank Depository Bond program is utilized by banks holding certain federal, state, municipal or private deposits. The bank is required to collateralize those deposits which are in excess of the F.D.I.C. limit. The use of our SURETY BOND is the alternative and accepted method of collateralization by law.
Miscellaneous and Indemnity bonds represent a broad array of possibilities. Indemnity bonds may include lost, stolen or destroyed stock certificates, bonds, certified or bank checks, co-op certificates or promissory notes. Miscellaneous Bonds include more bond types than can possibly be listed here. Some key bonds are: Liquor, License and Permit, Auctioneer, Public Official, Professional Fundraiser, and Utility Bonds.