Court Bonds are required in many judicial, probate, and banktuptcy court proceedings to ensure that one party is protected from possible loss as a result of the outcome of the proceeding. Court Bonds generally guarantee the fiduciary in a probate or bankruptcy proceeding or litigant in a judicial court case will pay any settlement or damages the court awards against them.
Examples include:
Administrator Bonds – guarantees the faithful discharge of duties and accounting of a decedent’s estate in accordance with the law and orders of the court.
Admiralty Bonds – guarantees payment of judgment, costs or other sums awarded by a Federal Maritime court proceeding.
Appeal Bonds – guarantees prosecution of appeal and payment of judgment, including interest, court costs and attorney’s fees.
Attachment Bonds – guarantees payment of court judgment and costs.
Bail Bonds – guarantees appearance in court for trial.
Bankruptcy Bonds – guarantees faithful marshalling of assets, operation, reorganization of debtor’s business, or liquidation and distribution to creditors.
Conservator Bonds – guarantees faithful performance of a fiduciary’s duties as appointed by the court to administer the estate of an insolvent or incompetent person.
Executor Bonds – guarantees the faithful performance of the duty of a fiduciary named in a will and appointed by the court as executor(trix).
Foreclosure Bonds – guarantees faithful performance of duty for sale of property in foreclosure.
Guardianship Bonds – guarantees faithful performance of a fiduciary’s duties as appointed by the court to administer the estate of an incompetent or minor person.
Indemnity to Sheriff Bonds – protects sheriff or marshall against loss resulting from liability to third parties due to wrongful writs of action.
Injunction Bonds – guarantees payment to the opposing party in a legal action for all costs and possible damages if the injunction is found to be improper.
Mechanic’s Lien Bonds – guarantees that a mechanic’s lien filed against a property will be discharged and released.
Receivers Bonds – guarantees the faithful performance of duties and accounting of monies in connection with the operation, reorganization and rehabilitation of debtors business during a bankruptcy or insolvency proceeding.
Replevin Bonds – guarantees payment of costs and the return of the property previously replevied.
Supersedeas Bonds – guarantees payment of final judgment, including interest, court costs and attorney’s fees.
Trustees Bonds – faithful performance of duty by a person appointed trustee in a bankruptcy, receivership, or named in a will.
