Ne Exeat Surety Bond
Meaning "That He Not Depart" in Latin, Ne Exeat comes into play when a divorced couple has children and one parent wants to take a child or children abroad. In most cases, the traveling parent must obtain a Ne Exeat Bond before leaving the country. This quick guide explains how the bonds work and why they're important?
What is a Ne Exeat Bond?
Essentially, it's a mechanism to ensure parents traveling abroad with kids bring those kids back. In the event that they don't, the other parent may file a claim against the bond seeking financial compensation they can use to pay for an international custody battle. Because of the way bonds are set up, this means the person refusing to return the child is essentially paying for the other parent's legal team.
Why do you need to get a Ne Exeat Bond?
To discourage one parent from taking a child to another country and never returning, against the wishes of the other parent. These bonds don't make it impossible for that to happen, but they make it less likely.
Who should get a Ne Exeat Bond?
Anyone told they need one by the family courts. Remember, these bonds will only apply to international travel, not trips within the US. You won't be able to legally leave until you can prove to the courts you have a bond, so reach out to Viking Bond Service immediately for help.
Who are the parties involved in a Ne Exeat Surety Bond?
There are three parties involved, not just the two parents:
- Principal - The parent leaving the country. The principal is the bonded party and the one responsible for paying claims.
- Obligee - The parent staying behind. The obligee may file claims seeking compensation, and as long as those claims are valid, the surety guarantees compensation.
- Surety - The company issuing the bond. The surety pays for claims if the principal is unable or unwilling, but the principal must pay back that amount in full, often with interest and fees added.
How much does a Ne Exeat Bond cost?
Given the sensitivity of the situation, most of these bonds require collateral, meaning cash or property equal to the value of the bond. The court will decide how large the bond needs to be after considering the costs of an international custody fight. Then, in addition to paying a small premium, the principal must turn over collateral he or she is willing to forfeit in the event of valid claims filed against the bond.
How are claims handled for Ne Exeat Surety Bond?
All claims get investigated. After being proven valid, the surety compensates the obligee financially up to the bond amount. This could result in the loss of the collateral to the principal. Afterwards, the surety may also collect additional interest, fees, or costs from the principal.
How to apply for a New Exeat Surety Bond?
You need to supply a complete bond application, the court order requiring the bond, and information about your trip, destination, and duration. You will also fill out a collateral agreement and turn over any other documentation requested by the surety. At Viking Bond Service, you can expect to get a quote back in as little as 48 hours.
Viking Bond Service - America's Surety Company
We issue bonds in all 50 states and know how to handle complicated judicial bonds. We also have a team of bond experts on hand to answer all your questions. Make contact through the form on this page or by calling 888-278-7389.
Surety bond fraud can be costly for the parties involved. Find out more about the risks of fraudlents bonds and how to prevent them from happening to you.
Performance Bond costs can vary widely based on many variables. Read about how the premiums are calculated.
At times, a Utility Deposit Bond may be required by some public utilities to start service. Learn more and get a fast quote.
