What they are
A probate (or fiduciary) bond is a guarantee to the court that the executor, administrator, or personal representative will faithfully perform their duties in managing an estate.
A license/permit bond is a guarantee that a business will comply with regulations that come with a city, county, or state license/permit.
Contractors, vendors, or businesses applying for professional, city, county, or state licenses/permits.
They're required by regulatory agencies and licensing boards. Without them, licenses can be delayed or denied, and noncompliance can lead to penalties.
Before appointing an executor or administrator, a court may require a probate bond.
A probate (or fiduciary) bond is a guarantee to the court that the executor, administrator, or personal representative will faithfully perform their duties in managing an estate.
Executors or administrators in probate proceedings (sometimes required by the court).
These bonds may be required by the court, and they safeguard heirs and creditors by ensuring the estate is handled properly. They also build trust and meet legal requirements.
Whether you're a bank, credit union, or law firm onboarding clients, you can rely on us to meet all bonding requirements and get the job done.
A bond can typically be issued same-day or within 24-48 hours once all required info is received (depends on bond type and underwriting).
Needed documentation usually includes: identity of applicant, bond amount, nature of license or court order, and sometimes credit or financial info.
Bond cost (or premium) is a percentage of the bond amount and depends on the bond risk, bond type, and financial/credit profile.
Some bonds are one-time, others have annual renewals. Cancellation policies vary, so it's important to understand the specifics before you apply.