Utah Court Bond
A Court Bond, not a single bond. It is a term used for different types of bonds that are employed in legal proceedings. A Court Bond is a requirement for a specific court rule or statute.
The Court Bond is required to ensure the following:
- Ensure payment of costs due to damages of losses.
- The people who are appointed to carry out legally binding acts will do so properly.
This surety bond is required from a defendant or a plaintiff by a statute for court proceedings. It serves as an assurance that the individual will fulfill his obligations following a case. The coverage of the obligation can vary widely – from regaining a seized property to the payment of damages.
Listed below are the types of Judicial Bonds:
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.
Replevin Bond – This bond is also deemed 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 will be compensated for losses caused by the seizure of the property in question by the plaintiff.
Take note that this bond will cover not all court costs. The examples of the covered court costs are, but not limited to, the following:
- Preparation of record
- Notice of appeal filing fee
- Supersedeas bond premium
Bond for Release – Also known as Delivery Bond, Forthcoming Bond, and Release of Lien Bond. This bond will guarantee the release of a lien from an attached property.
Injunction Bond – The purpose of such is to indemnify the defendant due to a wrongful injunction.
Dissolution of Attachment Bond – This bond will guarantee the dissolution of the lien from the attached property.
Fiduciary Bonds are a type of Court Bond used in probate courts.
A Probate Court is a tribunal that deals with certain proceedings such as:
- Guardianship of Minors and Assets Proceedings
- Conservatorship of Adults and Assets Proceedings
- Trust Proceedings
This type of bond is furnished to guarantee that the executor of the property and finances will perform his duties accordingly. Alternatively, they can be referred to as an Estate Bond, Guardianship Bond, Executor Bond, or Probate Bond.
What is the amount of the bond?
The amount will vary per bond and subject to the discretion of the court.
How do you secure this bond?
FIRST: Determine which type of Court Bond you need. Once you’ve established that, you will need to submit an application for that specific bond.
SECOND: Then we’ll ask you important information needed for the underwriting process such as the facts about your case, your job performance history, your credit score, and your financial history.
THIRD: An underwriter will carefully evaluate the information you have given. You will then be asked to sign an indemnity agreement.
FOURTH: Afterwards, we will issue the bond and send it to you immediately.
Get bonded, give us a call.