What is an Alabama Court Bond?
Learn about each and determine which one you need!
A Court Bond is a group of different bonds that are used in court proceedings. These surety bonds are either required for a specific court rule or statute.
Its purpose is to ensure that the people who are appointed to carry out legally binding acts will do so properly.
If you need help on these bonds right away, talk to one of our experts today!
This is a type of surety bond that is required of a defendant or a plaintiff by a statute for court proceedings. It is an assurance that the individual will fulfill his obligations following a case.
The coverage of the obligation can vary widely – from payment of damages to regaining a seized property.
Below are the types of Judicial Bonds:
Replevin Bond – Also known as Claim and Delivery Bond. It is a requirement for a replevin case to protect the defendant. This bond will assure the defendant that he or she will be compensated for losses caused by the seizure of the property in question by the plaintiff.
Supersedeas Bond – A bond that will secure the appellee/respondent from any loss due to a stay of execution or a delay by suspending the winning party’s collection until after an appeal is over.
Appeal Bond – A required bond for the appellant/claimant by the Federal Rules of Appellate Procedure as an assurance that the appellee’s court costs will be paid in case the appeal was lost.
Take note that not all court costs will be covered by this bond. The examples of the covered court costs are, but not limited to, the following:
- Notice of appeal filing fee
- Preparation of record
- Supersedeas bond premium
Injunction Bond – The purpose of such is to indemnify the defendant due to a wrongful injunction.
Fiduciary Bonds are a type of Court Bond used in probate courts. A Probate Court is a tribunal that deals with certain procedures such as:
- Trust Proceedings
- Conservatorship of Adults and Assets Proceedings
- Guardianship of Minors and Assets Proceedings
This type of bond is furnished to guarantee that the executor of the property and finances will perform his duties accordingly.
What is the bond amount?
This will vary per surety bond, and will be subjected to the discretion of the court.
How can I obtain this bond?
The first step is to determine which type of Court Bond you need. Once you’ve established that, you will need to submit an application for that specific bond.
If you are ready to do that now, you may easily APPLY HERE!
We will ask you some important information needed for the underwriting process such as the following:
- Your financial history
- Facts about your case
- Your job performance history
- Your credit score
An underwriter will carefully evaluate the information you have given. You will be then asked to sign an indemnity agreement. Once done, we will immediately issue the bond and send it to you!
Need more information? Call us at 800-333-7800!