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What is a court bond?

By August 18, 2022April 18th, 2024No Comments

Did you know that Vantage Point Insurance does bonds? Bid Bonds, Court Bonds, contractor bonds, etc. We offer the widest selection of instant issue bonds on the market, with approvals in minutes.

A court surety bond ensures you will fulfill your responsibilities as ordered by law, state or federal courts. These bonds can be required for a variety of circumstances, the most common being: appeal, guardianship, fiduciary.

Appeal – guarantees that the Principal will pay to the Obligee the amount of any Judgment plus costs and interest owed by the Principal as a result of a verdict from a lower court while the Principal pursues an appeal of the verdict through the judicial system. Should the verdict be overturned and vacated the bonds is exonerated. 

Probate – Guardianship (minor or disabled person) – guarantee the faithful performance of an individual appointed by the court to administer the affairs of a minor or someone who is unable or unfit to care for themselves.

Probate – Fiduciary or Executor of an estate – guarantee the faithful performance of an individual appointed by the court to administer the finances of an estate as outlined in their will or trust. If the person dies without a named executor then they will appoint someone. These bonds are filed court as the named Obligee, but generally run for the benefit of anyone with an interest in the assets of the entities being administered.

We understand surety Bonds are expensive, Vantage Point Insurance saves you money, get your Bond today.