FOR ALL YOUR SURETY BOND NEEDS.
These surety bonds are general for all states.
Learn more about attachment bonds, and apply today. Absolute Surety offers surety bonds nationwide through a convenient online application system.
Attachment bonds, also known as plaintiff bonds or writ of attachment bonds, are used in civil cases between a debtor (the defendant) who owes money and a creditor (the plaintiff). Attachment is the process through which a plaintiff who fears the defendant won’t pay a court judgement asks the sheriff in the court’s jurisdiction to seize and hold property belonging to the defendant.
Any property that is not exempt under state law can be attached. Most commonly, plaintiffs will seek attachment of property that can easily be liquidated, such as bank accounts, paychecks, stocks and bonds, or real estate. An attachment bond guarantees that damages will be paid to the defendant if it turns out that the defendant’s property was wrongfully taken.
Plaintiffs seeking an attachment may be required to first obtain an attachment or plaintiff bond. The surety company will require the plaintiff to provide court documents verifying the names of the plaintiff, the defendant, and the bond amount required by the court.
An attachment bond guarantees that the plaintiff will pay court costs and legal fees as well as return the defendant’s property and pay any damages the defendant sustains if the court decides the attachment was unnecessary. If the defendant makes a claim on the bond for damages or loss of the defendant’s seized property, the surety company will investigate and pay the defendant if the claim is found to be valid. The plaintiff must then reimburse the surety company.
The bond remains in effect until the case is settled between the parties or decided in court. It cannot be canceled, and it typically must be renewed every year until the case is resolved.
When the court requires an attachment bond, it will specify the bond amount, which can be as much as twice the estimated value of the property to be attached. The surety company typically requires collateral as well as a premium payment from the plaintiff. The bond premium is a percentage of the total bond amount.
Once the court informs you of the attachment bond amount you’ll need, use our convenient online application for quick turnaround times of 24 hours or less.
