How Does a Court Bond Work?

Simply put, a court bond can be defined as an umbrella term for all types of surety bonds, which someone will need during certain court proceedings. Individuals may need to purchase court bonds to reduce risk related to financial loss or fulfilment of court appointed tasks.

Just like License and Permit Bonds, Commercial Bonds, and Contract Bonds, Court Bonds encompass a wide range of certain types of bonds, which are commonly used for different court proceedings. Court Bonds can be divided into two separate categories, Probate Bonds and Judicial Bonds.

Judicial Bonds

A Judicial Bond is as a type of Court Bond, which is usually required for limiting losses, which may result from a court ruling. Surety underwriters will not be able to predict outcomes of court rules, which is why Judicial Bonds are a lot more risk averse. There are three different types of Judicial Bonds:

Appeal Bond

The purpose of an Appeal Bond is to ensure that the original judgment will be paid in full if and when the appeal has been denied.

Bail Bond

A Bail Bond guarantees that inmates will appear in court after they are released. If they fail to appear, then the bail amount will get forfeited.

Plaintiff’s Attachment Bond

A Plaintiff’s Attachment Bond is required in cases where plaintiffs want to attach the property of the defendant as security for a certain pending claim.

Probate/Fiduciary Bonds

Fiduciary or Probate Bonds are types of Court Bonds, which are required of persons who are appointed by the court to manage others’ assets or to care for other people. Here are some common types of Fiduciary or Probate Bonds:

• Guardianship Bond
• Executor Bond
• Custodian Bond