Information on Court Bonding
SuretyBonds.com is legally licensed to issue court bonds in every state. For more information on the specific court bond you need, contact a surety expert by calling 1 (800) 308-4358.
Court proceedings often require certain parties to file surety bonds to verify their personal credibility and financial integrity both in and out of the courtroom. A bond might be required for a number of reasons such as reducing the risk of financial loss following a court ruling or ensuring fulfillment of a court-appointed task.
Just like the terms contract bond, commercial bond, and license and permit bond, “court bond” is an umbrella term encompassing a range of specific bond types used for various court proceedings. Court bonds can then be split into 2 more categories:
- Judicial Bonds
- Fiduciary/Probate Bonds
You can find more information about specific court bond types by clicking on the links below.
Judicial Bond Types
Judicial bonds protect against the uncertainties involved with court proceedings and are typically required to limit losses that could result from a ruling. Since surety underwriters cannot easily predict the outcome of court rulings, these bonds are considered less risk-adverse meaning judicial bonds can be difficult to qualify for.
- Appeal Bond
- Before courts agree to hear a case on appeal, many will require individuals to post a surety bond. An appeal bond’s purpose is to guarantee the original judgment will be paid in full if the appeal is denied. These bonds essentially discourage individuals from filing frivolous appeals that would waste the court’s time. SuretyBonds.com can issue appeal bonds but applicants typically must post collateral worth 100-110% of the bond amount in the form of cash or an irrevocable letter of credit (ILOC).
- Bail Bond
- This type of bond ensures that a person in jail will appear in court after being released back into the public. If the accused person fails to appear, the bail amount will be forfeited to the court. SuretyBonds.com does not currently issue bail bonds.
Probate/Fiduciary Bond Types
“Probate bond” and “fiduciary bond” are interchangeable terms for bonds required of individuals appointed by the court to care for others or manage others’ assets. These bonds ensure that these caretakers fulfill their court-appointed duties, especially those related to funds management, according to the court’s expectations.
- Custodian Bond
- This surety bond type ensures that an appointed custodian will care for an individual and his or her finances honestly and according to court expectations. These bonds are frequently required of custodians who care for minors, the elderly or disabled individuals. The terms “custodian bond” and “guardianship bond” are often used interchangeably. SuretyBonds.com can issue custodian bonds.
- Executor Bond
- This bond ensures that estates are managed according to the wills of the deceased. Before an individual can officially be appointed as an executor, the court responsible for the estate might require a surety bond to be filed. SuretyBonds.com can issue executor bonds.
- Fiduciary Bond
- This is an umbrella term for bonds that guarantee individuals will fulfill court-appointed tasks, such as managing an elderly individual’s property and finances, ethically and in accordance with the court’s instructions. The terms “fiduciary bond” and “probate bond” are used interchangeably. SuretyBonds.com can issue fiduciary bonds.
- Guardianship Bond
- This bond ensures that an appointed guardian will care for another individual and manage their property and/or finances ethically and according to court expectations. Guardianship bonds are typically required of those who care for minors, the elderly or disabled individuals. The terms “guardianship bond” and “custodian bond” are often used interchangeably. SuretyBonds.com can issue guardianship bonds.
- Nominal Bond of Personal Representative (Maryland)
- This bond requires the court-appointed personal representative to use the estate to pay all debts owed by the decedent as well as the Maryland inheritance tax, court costs and register’s fees. In this situation, a personal representative was not indicated in a will, so the bond helps to prevent fraud or embezzlement. SuretyBonds.com can issue nominal bonds in Maryland.
- Probate Bond
- This is a generic term for bonds that guarantee individuals will fulfill court-appointed tasks, such as caring for a minor, honestly and according to the court’s instructions. The terms “probate bond” and “fiduciary bond” are used interchangeably. SuretyBonds.com can issue probate bonds.
- VA Fiduciary Bond
- In 2011, the U.S. Department of Veterans Affairs began allowing veterans’ friends and family members to act as their fiduciaries. This gave those closest to veterans the ability to retain control of their finances, estates and benefits without having to pay extensive fees charged by fiduciaries who work for the court. SuretyBonds.com can issue VA fiduciary bonds.