In Florida, when a person or entity becomes bankrupt, or if the matter involves property that is in dispute, many courts will appoint a receiver to take custody of the business, property, rents and profits of the insolvent party, or person whose property is in dispute. The Bond guarantees performance of the receiver’s duties and obligations of the receivership. If any loss occurs to the property assigned to the receiver due to his/her negligence, or dishonest acts, the receiver is responsible for damages.
The Bond amount varies, and is determined by the court. The Bond rate (cost) ranges anywhere from 0.5% to 2% of the Bond amount for premium, based on the quality of the individual’s credit history.
Call us at (855) 952-6633 to speak with a Surety Bond Expert
What happens after I apply online for my Surety Bond?
Step #1: A Surety Bond underwriter will immediately review your application, if it has been fully completed.
Step #2: A friendly Surety Bond expert will reach out to you to explain your quote or request additional information.
Step #3: Once you accept your quote and pay any premium due, your Surety Bond will be issued and delivered immediately.