Home / Child Custody Bond

Child Custody Surety Bond

Data from the US Census Bureau shows the number of single parents has been rising steadily for decades but falling in recent years. In any instance where a child's parents live separately, custody may become an issue, in which case the courts will get involved and bonds could be required. This is your guide through the bonding process.

What is a Child Custody Surety Bond?

If one party in a child custody case violates the conditions of the court - by taking a child to an unauthorized jurisdiction for example - bonds hold them financially accountable. The court sets a bond amount, and the wronged party may file a claim against the bond seeking financial compensation which must be paid by the bonded party. By holding a party financially responsible, the courts encourage that party to stay within the bounds of the custody agreement. Essentially, bonds empower courts to protect the safety of children and the rights of parents.

How does a Child Custody Surety Bond work?

If the bonded party violates the terms of the custody agreement - by taking a child to a different country or exposing them to unsafe conditions - the other parent can file a claim against the bond. The company backing the bond conducts an investigation, and if the claim proves valid, the surety will settle the claim which could jeopardize any collateral posted when the bond was obtained. One way or another, the bonded party always has the final financial responsibility.

Who should get a Child Custody Surety Bond?

Not all courts require bonds. Typically, they're used when one parent lives internationally or has a history of violating custody agreements. Bonds are more likely in these "high-risk" situations, but it's up to the courts to decide if and when they're necessary. When required, get a bond ASAP from a company like Viking Bond Service because the custody hearing may not proceed otherwise.

Who are the parties involved in a Child Custody Surety Bond?

Unlike insurance or loan agreements, surety bonds like this one involve three parties:

• Principal - The bonded party and usually the parent at risk of violating the custody agreement.
• Obligee - The bond beneficiary, meaning the parent allowed to file claims against the bond.
• Surety - The bond company that agrees to guarantee payment for any valid claims and to hold the principal financially responsible.

How much does a Child Custody Bond cost?

When courts require a child custody bond they will specify an amount based on state statutes and the specifics of the case. For the principal obtaining the bond, the cost is around 5% of the total, but these bonds often require collateral as well equaling some or all of the total. To get more specific information about child custody bond requirements and costs, request a quote from Viking Bond Service.

How are claims handled for Child Custody Surety Bonds?

Upon receiving a claim, the surety will launch an investigation. When claims prove to be valid, the surety will settle the claim which may result in the loss of any posted collateral. If the principal still owes money to the surety, because of claims or added costs, that must be repaid in a timely manner.

How to apply for a Child Custody Surety Bond?

After selecting a surety company to work with, the applicant will submit a bond application with personal and financial information, supply the court order, complete a collateral agreement if necessary, and turn over any other documentation the surety requests. Underwriters at the surety will quote a bond price, and after the principal pays it, he or she receives a document to provide the courts.

Work with Viking Bond Service

In a child custody case, a bond is probably the least of your worries. Satisfy the courts and simplify the bonding process by partnering with Viking Bond Service - a nationwide surety equipped to meet the specific child custody bond requirements. Connect with our team by completing the contact form on this page or by calling 888-278-7389.