Bond Amount
Based on Court Requirement
Underwriting Criteria
Review of applicant's personal credit report, financial stregth and experience
Requiring Entity
County of the Superior Court in which the bond is filed
Who is Required to Secure this Bond
A receiver is appointed by the court to take possession of, preserve and dispose of disputed property under the court’s jurisdiction. Any person appointed as a receiver by the court may be required to provide a bond in an amount mandated by the court.
Why is the Bond Required
The bond is required to ensure that all duties and responsibilities of the Receiver are performed faithfully. The bond ensures that all property involved in the case will be managed responsibly.
Who is Protected Under this Bond
The bond protects the property and owners of the property that will be overseen by the receiver. The bond guarantees that the receiver will comply with all court orders with regards to the handling of the property.
Underwriting Process
The following information is required of each applicant applying for a Receiver Bond:
- Completed Application
- Personal Financial Statement
- Copy of the Court Order Appointing the Receiver
Once this information has been received, a response as to approval of the bond will be received within 1-2 business days.
What you Need to do Once you Have your Bond
Once the bond has been issued and released to the client, it must be filed with the court. The bond will remain on file with the court a formal exoneration letter is provided releasing the bond. The bond can only be released by court order.