Who Needs An Indemnity To Sheriff Surety Bond?
Indemnity to Sheriff Bonds protect sheriffs and law enforcement agencies against legal suits filed against them by individuals who have had their property seized by court order. The court requires the plaintiff to provide this protection for the law enforcement officer(s) charged with seizing the property.
What Is The Purpose Of An Indemnity To Sheriff Bond?
In the event of a court issuing a writ of execution, ordering the seizure of a defendant’s property to be used for obtaining the funds necessary to satisfy the payments owed to the opposing plaintiff, local sheriffs are usually tasked with taking possession of these items.
These court surety bonds protect law enforcement against all legal action taken against them due to damages or losses incurred during a lawfully executed seizure. These bonds also ensure law enforcement agencies are reimbursed for any financial loss resulting from the plaintiff being unable to fulfill his or her contractual obligations. Financial costs include things like labor, services or materials that were used to enforce the seizure of the property.
How Much Are These Bonds Written For?
Penalty amounts for Indemnity to Sheriff Surety Bonds are set by the courts ordering the seizure and will vary. In most states, the bond amount is set at twice the judgement amount. Please contact your local authority for information about Indemnity to Sheriff Surety Bond requirements in your state.
How Much Does An Indemnity To Sheriff Bond Cost?
Pricing for Indemnity to Sheriff Surety Bonds depends on a number of factors. An underwriter will review your application, and your premium will be based on the following:
- Amount of the Bond
- Personal Credit of Individual Requesting the Bond
Individuals with good credit can expect to pay between 1% and 5% of the bond amount. To find out how much your Indemnity to Sheriff Bond is going to cost, please complete our online application for your free, no obligation price quote.
Can I Get This Surety Bond With Bad Credit?
Pacific Surety offers a wide-range of approvals, regardless of credit, for Indemnity to Sheriff Surety Bonds. With our strong surety relationships, we have the ability to approve 99% of applicants, regardless of how bad their credit is. Our knowledgeable underwriting staff will work with you to ensure you receive the lowest possible pricing for your bond. To see what rate you will qualify for, please complete our online application for your free, no obligation price quote.
How Are Indemnity To Sheriff Surety Bonds Purchased?
The first step is to complete our quick online application for your free, no obligation bond quote. Submission takes only five minutes, and our underwriting staff will be in contact with you within a couple of hours with pricing. If you prefer to speak with our knowledgeable staff, please call 1-866-722-7837 and one of our Underwriters will assist you in applying for your bond.
After you receive approval, you must sign an indemnity agreement with the surety and provide payment for your bond premium. In most cases, we can issue bonds the same day we receive your signed documents and payment.