Highlights
- Court bonds
- Appeal bonds
Best For
- A party to a legal action who wishes to appeal a court’s decision and suspend a payment obligation
- Category: Court and Fiduciary
- Group: International Group
If you are involved in a legal action and the court issues a judgement against you, you may have to pay a substantial sum even though you have rights of appeal. If that happens and you intend to appeal, instead of immediately paying the amount specified in the judge’s award, you may be able to post a bond until the appeal process concludes. Court bonds may be posted in relation to the decisions of tax tribunals, competition courts or civil courts. The amount of the bond is fixed by the court.
Summary of Coverage
The Advantage: FlexibilityGreater understanding means greater flexibility. Because our court bond underwriters understand how to accurately assess the risk in any specific court bond, we are often able to write bonds without collateral that others typically default to collateral. If collateral is necessary, our procedure for securing and releasing collateral is simple and straightforward.
Because of our specialized knowledge, we are comfortable writing a much broader spectrum of fiduciary bonds than others, including long-term guardianships, non-court-controlled trusts, special needs trusts, and even unique appointments. We have several programs facilitating the issuance of fiduciary bonds including:
- Professional fiduciary program: Enrollment allows individuals who carry multiple fiduciary appointments to obtain pre-approval for a bond exposure limit.
- Limited control agreement program: We have established monitoring programs with several brokerages that allow otherwise unqualified applicants to qualify subject to estate assets being placed with and monitored by such programs.
