What is an Injunction Bond?
Injunction bonds are required by the courts when a party requests that a judge restrain or injunct another party.
In order to have an injunction granted, this type of surety bond is common because it provides security to the adverse party that the injunction is placed against, who may be wrongly accused of causing the plaintiff to incur a financial loss.
If the injunction is found to be unwarranted, the injunction bond provides a financial recourse to the defendant. The monetary payment resulting from an injunction bond is referred to as injunctive relief.
Types of Injunctions
Injunctions either stop a party from performing or force them to perform a specific action. In order for an injunction to be granted, the plaintiff must prove that they will suffer irreparable harm if the injunction is not granted.
There are two main types of injunctions:
- Prohibitory Injunctions: when the court requires a party to cease or not perform a certain act.
- Mandatory Injunctions: when the court requires a party to perform a specific act.
These two types of injunctions can be further broken down into three more categories:
- Temporary Injunctions: these are commonly referred to as a temporary restraining order (TRO). They are short-term orders from the court that lead to more permanent injunctions.
- Preliminary Injunctions: these are placed at the beginning of a case and generally last until the case is resolved.
- Permanent Injunctions: these stop or force actions indefinitely. They are the final judgement of the court.
Apply for Injunction Bonds
The Patrick J. Thomas Agency is licensed to provide injunction bonds in many states. We have a fast-moving application process that will procure the right surety bond for you or your client.
For more information on filing an injunction or getting an injunction bond in your state, contact the experienced professionals at the Patrick J. Thomas Agency.