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When In Court, It’s Best To Be Bonded

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When In Court, It’s Best To Be Bonded

Previously, we looked at executor bonds, which are a type of fiduciary bond. This month, we will examine the importance of judicial bonds.

When an individual is involved in a lawsuit, judicial bonds can help limit losses resulting from a ruling. Before entering into a civil proceeding, a court may require this bond to ensure all costs related to the legal action are paid in the end.

Judicial bonds are typically more risk averse, as surety underwriters cannot easily predict the outcome of court rulings. They are split into two categories: defendant bonds and plaintiff bonds.

Defendant bonds postpone payment of a judgement and permit the defendant to regain control of the property being contested. Common types of defendant bonds are bail bonds, appeal bonds, counter-replevin bonds and release-of-lien bonds.

With plaintiff bonds, plaintiffs ensure protection of the defendant should the plaintiff lose a lawsuit. In this scenario, the plaintiff is held liable for damages that the defendant suffers due to the court proceeding. Plaintiff bonds include attachment bonds, claim and delivery bonds, indemnity to sheriff bonds, injunction bonds and replevin bonds.

At Glenn Insurance, judicial bonds are our specialty! With more than a century of experience caring about South Jersey businesses and families, our experts can take care of all your bonding service needs.

To learn more about our bonding services, call our bond specialists.

For more information about Glenn Insurance bonds, click here.

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