surety bonds

When a person passes away, their friends and family members quickly become accustomed to the term probate, especially if the person who has passed has not set up a trust or written a will that dictates the disbursement of their estate. Even if a will or trust has been created,…

When attorneys and their clients are seeking a temporary restraining order or preliminary injunction in federal cases against the United States, the United States Court of Federal Claims will generally require a surety bond in order to provide security to the relief that is being sought. This is a process…

Indemnity is one of those words that gets thrown about when it comes to surety bonds. It’s important, but also often misunderstood. What is indemnity? Better yet, what is an indemnity agreement? And how does it work when it comes to a surety bond?  Find out what you need to know about surety…

Planning an estate isn’t an easy process. There’s a lot to consider, which is why it’s always advisable to work with an attorney. One of the things you and your friends and family may need to prepare for is obtaining the right surety bonds to go along with your estate. Depending on how…

If you own a business and are looking to protect yourself and your customers, you’ve likely heard two terms:  Surety bonds  Letters of credit  Both of these are three-party agreements that offer financial protection in certain instances, but both operate very differently from one another. We’ve heard that letters of credit…

Replevin is a court action that allows for property to be returned to its rightful owner pending the outcome of the decision made in court. In the simplest terms possible, it is a court action that determines the owner of a property. When replevin is used in court, the plaintiff who is…

As a part of the Minnesota Conservators Account Review Program (CARP) and the Conservator Account Auditing Program (CAAP), Minnesota conservators are required to submit all necessary financial documentation to the account program that pertains to the accounts they manage. This can include financial documents like bank statements, receipts and invoices that show expenses paid…

Surety bonds generally don’t last forever. Many operate within a certain time frame, and a sort of “expiration date” can be attached to them. While the effect of the bond may expire after the bond’s term has come to an end, bonds can often be renewed in order to extend their coverage further. If you…

Underwriting is a required part of the surety bond process. Sureties need to understand the risks associated with providing a bond for a particular person, organization, etc., so they will look for certain criteria and red flags that are known to cause risks. This also plays into the price paid for the bond, but it’s…