An estate bond is essentially the same as a probate bond or executor bond. When someone dies or is disabled, a document such as a will usually details what is to become of that person's estate. The person who carries out the will sometimes needs to purchase an estate bond to ensure that proceedings are handled honestly and legally.
A guardianship bond is required of a person who assumes legal custody of a minor or disabled person (unless otherwise stated in a will). The guardianship bond is a form of insurance that insures the well being of the minor or disabled person and protects against unethical or illegal actions.
Conservators are court appointed fiduciaries whose obligation is to manage another person's assets due to a lack of ability to legally act on his/her own behalf. Most conservators must have a surety bond known as a conservatorship bond. This bond protects the person being cared for from theft or mismanagement of their assets by the conservator.
A trust is an arrangement in which one person holds the property of another for the benefit of a third party, called the beneficiary. The beneficiary is usually the owner of the property or a person designated as the beneficiary by the owner of the property. A trustee may be either an individual or a corporation. A trustee manages the property as provided by the terms of the document that created the arrangement.
A bond given by a plaintiff in a replevin action to cover losses to the defendant or court officer seizing the property in the defendant's possession and transferring it to the plaintiff in the event that the plaintiff loses the case.
A type of judicial bond under which a plaintiff is held liable for damages in the event of a false injunction. The objective of this bond is to protect the party who has been wrongly accused by a plaintiff and suffers financial loss.
A lost securities bond, sometimes called a lost instrument bond or lost document bond, is required when a person or corporation has lost, mislaid or destroyed an original document that evidences ownership. Such instruments can be certificates of stock ownership, life insurance policies, common or preferred stock as well as federal, provincial, municipal or corporate bonds. The bond of indemnity, as it is also called, provides that the issuer of the replacement security will not suffer economic loss should the lost instrument turn up later.
A type of surety bond that guarantees the performance of public officials. Public officials are responsible for a broad range of property including fees that they collect, money that they handle, and bank accounts that they oversee. They may also be held responsible for misdeeds that result in a loss of public funds by those they supervise.
A Lost Title Bond is type of surety bond that state DMV departments require of those attempting to legally register a vehicle without any physical title documentation for proof of ownership. This will protect those who may legally have claim to said vehicle in the amount of the bond issued, as well as maintaining your compliance with the laws and regulations that govern the transfer of ownership and titles in regards to motor vehicles.
A cost bond is a promise to pay litigation expenses. It is provided by a party to an action as a guarantee of payment of any costs awarded against him or her. It guarantees the payment of the costs of litigation, such as court fees, payment to the clerk, sheriff subject to the terms and condition of the bond.
Medicare DMEPOS Bonds: Dentists are now required to purchase DMEPOS bonds. In January 2019, the Center for Medicare and Medicaid Services (CMS) sent notifications to all Durable Medical Equipment, Prosthetics, Orthotics and Supplies (DMEPOS) suppliers announcing that Dentists are no longer exempt from the DME Surety Bond requirement.
A notary bond is designed to protect the state from errors or misrepresentations made while a notary is performing his duties. The payment of a notary bond ensures that the state can be reimbursed for any loss that it incurs in the event that a notary betrays the public trust.
License and permit bonds, also known more simply as "license bonds" or "permit bonds," are a specific type of commercial bonding. Government agencies require business owners in certain industries to purchase these bonds before they can be legally licensed. They protect consumers by guaranteeing businesses adhere to laws and other regulations enforced by federal, state and local government agencies.
Motor Vehicle Dealer (MVD) Bonds are required by the State of Wisconsin in order for a dealer to obtain a dealer license. The MVD Bond ensures that the dealer complies with all federal laws, state laws and tax and decision guidelines.