surety bonds

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…

Back in 2019, the Minnesota state senate passed bill 2415, which dealt with higher education appropriations and policy provisions. Among these provisions were changes to the types of educational institutions that are required to post a surety bond that provides coverage based on the educational program they provide.  What Types of Educational…

Most conservatorships, whether new or existing, are required by the courts in their state to obtain a surety bond. These conservatorship surety bonds provide protection for the person who is the subject of the conservatorship in the event that the conservator fails to faithfully fulfill their duties. In many cases these bonds are required either before or just…

Understanding a contract is important regardless of its contents. It’s never a good idea to sign your name onto anything that you do not explicitly understand. This is the case for any contract, and it’s especially important in the surety industry. Whether you are a guardian seeking a guardianship bond, a business seeking a licensing bond, an attorney seeking…