Bond Amount
Based on Court Requirement
Underwriting Criteria
Review of the applicant's personal credit and financial strength
Requiring Entity
County of the Superior Court in which the bond is filed
Who is Required to Secure this Bond
This bond is required of a defendant who wishes to recover replevined property. Replevin is a court action that enables the plaintiff to take back property that is held by the defendant before the trial has commenced. This allows the defendant to regain possession of the property until the court makes a final decision.
Why is the Bond Required
The bond is required to guarantee that the defendant will return the property that was obtained through the counter replevin action, should the court decide in favor of the plaintiff. Should the court decide in the favor of the plaintiff, the defendant is responsible for all costs and damages that are associated with the removal of the property.
Who is Protected Under this Bond
The bond protects the plaintiff should the court decide in favor of the plaintiff. If the court does decide in favor of the plaintiff, the defendant is responsible for any losses incurred by the plaintiff due to the recovery of the property.
Underwriting Process
In order to apply for a Counter Replevin Bond, the following documentation must be provided:
- Completed application
- Copy of the court order indicating plaintiff’s name, defendant’s name and case number
- Personal financial statement
- Confirmation that the defendant is working with an attorney
Once this information has been received, it will be reviewed and a response as to approval will be provided within 1-2 business days. As these bonds are considered somewhat more hazardous, the applicant will be required to provide documentation of all liquid assets and may be required to post collateral.
What you Need to do Once you Have your Bond
Once the bond has been received by the applicant, it must be filed with the court requiring the bond. The bond will remain on file with the court until it is officially released. The applicant must supply court documentation indicating that the liability under the bond has been terminated in order to have the bond cancelled.
* Please be advised that the quote you obtain for this bond may include a fee charged and retained by The Bond Exchange.