Bond Amount
Based on Court Requirement
Underwriting Criteria
Instant Issue if bond amount is less than $10,000
Requiring Entity
County of the Superior Court in which the bond is filed
Who is Required to Secure this Bond
The bond is required by the court of any plaintiff who wishes to attach property of another. Attachment is the seizing of a person’s property to secure a judgment. The property that is attached is generally held in custody, often by a sheriff, to prevent its sale, transfer or removal from the court’s jurisdiction. The bond must be filed with the court before any attachment order is issued. The bond amount will be determined by the court depending on the amount and value of property that is to be attached.
Why is the Bond Required
The bond generally required when the defendant in the case is not a resident within the court’s jurisdiction. The plaintiff is required to secure the bond and indemnify the defendant against any losses that may be caused by the attachment of the property.
Who is Protected Under this Bond
The bond protects the defendant against any loss that may be caused by the attachment of the property. This occurs if the court determines that there was not a statutory ground for attachment or if the court decides against the plaintiff.
Underwriting Process
These bonds can be instantly issued as long as the required bond amount is less than $10,000. In order to issue the bond, the following documentation is required:
- Completed Application
- Court order indicating required bond amount, plaintiff names, defendant names and case number.
- Confirmation that applicant is working with an attorney
The bond will be issued the same day that the above noted information is received. Should the bond amount be greater than $10,000, the requirements will vary.
What you Need to do Once you Have your Bond
The bond must be filed with the court in order for the attachment to take place. If the bond amount is less than $10,000, no documentation will be required to release the obligation. If the bond amount is greater than $10,000, official release documentation will be required from the court.
* Please be advised that the quote you obtain for this bond may include a fee charged and retained by The Bond Exchange.