Surety is a large industry because there are different bonds for many court cases and financial situations. There isn’t a single surety bond that encompasses all cases, which is why it’s important to know which type of bond you are looking for before you start the process.
Not sure where to begin when looking for a surety bond? Make sure you fully understand the following:
The Details of Your Case
Do you need a replevin bond to contest property for a court case, a supersedeas bond for a judgement and/or appeal, or maybe even a Temporary Restraining Order bond for protection? There are dozens of bonds that deal with a multitude of cases and court orders, so it’s important to understand the type of litigation that you are involved in.
You can see an expanded list and learn more about the court and appeals bonds we specialize in here.
The Business and Industry Licenses You Need
If you need a surety bond for your business, the bond that you will need to acquire is dependant upon the type of license you need for your industry. Whether you have a car dealership, travel agency, construction firm or any other commercial agency, you should check with your attorney or the commerce department to see if you need bond in your state.
The Court Protocols of Your State
The laws that govern the surety process can change based on the state you reside in. Whether you are looking for a court bond or a bond for a personal representative or representative payee, it’s important to ensure that you understand the type of bond that you need and how much the bond should cover.
Additional Tips for Obtaining Surety Bonds
- Ensure that you fully understand the precise details of how the specific bond works in order to avoid any surprises.
- Always have a proper framework for the expense or size of the bond that you need.
- Keep in mind that other bonds might be required depending on your court case, business or other factors.
- Understand what’s being required of you when you enter into certain contracts, including becoming a obligee or principal in a surety bond.
Ask a Surety Agent for Help
Finding out which type of bond you need is only the first step. There is still a substantial number of details to iron out and underwriting procedures to go through before you can be approved. The process isn’t extraordinarily long, but it can be tricky to navigate, which is why it’s best to work with a reliable surety agency.
To find out which type of bond you need and how you can get one as quickly as possible, contact one of our agents here at The Patrick J. Thomas Agency.
Disclaimer: this is for informational purposes only and is not intended to be legal advice. If you need legal counsel, please contact an attorney directly.