SafeLine SuretyBond does not deal with bail bonds. There are, however, a number of other types of bonds that a court may require from a person. The courts may demand that a person hold a surety bond if a ruling goes against them. This bond is used to uphold the court’s ruling outside the courts and is typically only required for a set amount of time. Other times, the courts may require a surety bond to uphold financial legal obligations of a person, and the bond is required for however long they deem necessary. In both cases, the surety bond is a financial safety net to protect others against any legal action or illegal activity.
All surety bonds are broken into three parts. Court bonds are no different. They include the following three parts:
1) Obligee: This could be either the court or the party in the court’s favor that requires the bond in the first place. The terms and the amount will be dictated by the oblige based on the needs and outcomes of the verdicts.
2) Principal: The person who owns the bond. They are responsible for fulfilling the terms of the bond.
3) Surety: The company that issues the bond. They are also liable in the case of a claim against the bond. It is important to find a surety company that is licensed and registered to do business in your state, like us at SafeLineSuretyBond!
Common Types of Court Bonds
Court Bonds—Fiduciary (Probate) Bonds