Indemnity-to-Sheriff (or Marshal) Surety Bond
In property disputes, it sometimes becomes necessary for law enforcement to seize property from a defendant on behalf of a plaintiff. Before that seizure can proceed, however, the plaintiff usually needs to obtain a sheriff's indemnity bond.
What is an Indemnity to Sheriff Bond?
Also known as Sheriff's bond, these bonds help protect law enforcement in the process of seizing property. In the event that officials damage the property being seized or other property in the vicinity (like a locked door) and the defendant tries to sue them, those officials may file a claim against the bond seeking compensation for associated legal costs. Similarly, if the officials are not paid by the plaintiff, the officials may file a claim seeking compensation.
How does an indemnity to sheriff surety bond work?
If someone pursues legal action against law enforcement officials following a property seizure, it's the plaintiff's responsibility to pay for it. In the event that they don't pay, the officials may file a claim against the bond seeking compensation for their expenses. Similarly, they can file a claim seeking unpaid wages or expenses.
Who should get an indemnity to sheriff surety bond?
The courts determine if and when plaintiff's need to obtain a sheriff's bond before moving forward with a property seizure. These bonds are common, and they are almost universal in seizures involving valuable or sensitive property. Seizure can't move forward without a bond, so if the judge requires one, don't delay.
Who are the parties involved in a Sheriff's Indemnity bond?
You are one of three parties:
- Principal - The person obtaining the bond and responsible for paying claims against the bond.
- Obligee - The person benefiting from the bond, in this case the law enforcement officials carrying out the property seizure.
- Surety - The company issuing the bond to the principal and guaranteeing payment to the obligee.
How much does an indemnity to sheriff surety bond cost?
The judge authorizing the property seizure decides how large the attendant bond must be. The total value of the bond refers to the amount the surety agrees to pay out in claims. However, the cost is just a fraction of the total, often around 5%. Costs depend on the applicant's credit score and history. To get a better sense of costs, request a quote at any time.
How are claims handled for a Sheriff bond?
After receiving a claim, the surety company investigates its merits. Principals must pay for any valid claims, but if they are unable or unwilling, the surety steps in to pay up to the bond total. Even though the claim is settled at this point, the principal must still repay the surety, along with interest, costs, and fees.
How to apply for an indemnity to sheriff bond?
It's easy when you apply through Viking Bond Service. Simply submit your bond application along with a copy of the court order for the bond. You may also need to supply a financial statement and other information requested by the underwriters. You will receive a quote in under 48 hours, and once you pay for the premium, the bond goes into effect and the seizure can proceed.
Viking Bond Service - A Premier Partner
What do you need from a surety company? Service, speed, and savings. Find all three by working with Viking Bond Service, a nationwide provider of sheriff's indemnity bonds. For more information, complete the form on this page or call us at 888-278-7389.
Viking offers fast quotes and great rates for Auto Dealer Bonds nationwide.
Credit challenges are not always a barrier to obtaining a Surety Bond. Often times, Viking can quote your request despite a poor credit rating.
Find out how to gain access to the SBA's Surety Bond Guarantee program.
