Judicial bonds are required in civil matters when a litigant seeks a special right or remedy in advance of a final court decision. They are required by a party to a lawsuit to guarantee payment of losses which may arise from the delay or depravation caused by the legal proceeding.
Examples of common court/judicial bonds are:
Probate bonds, also termed as fiduciary bonds, are required when a party is acting on behalf of another individual or entity. Probate bonds guarantee the ethical performance of the Principal to the bond with respect to carrying out their duties as the administrator, executor, trustee, or other court deemed designation. Should the Principal be found to have caused a loss through fraud or malfeasance, the bond would reimburse those affected.
The most common probate bonds are as follows:
Pinnacle Surety has substantial internal underwriting authority on court bonds nationwide. For additional information regarding judicial or probate bonds, please contact an expert at Pinnacle Surety.