Process Server Bonds
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What you need to know about Process Server Bonds
Process server bonds are legally binding agreements between three parties: process servers, the local court, and a surety company.
The government agency is the Obligee and establishes the obligations that the process server (the Principal) must follow. The surety (also called bonding company) issues the bond guaranteeing the performance of the process server.
Process server bonds are a requirement in some states and counties to be legally appointed to deliver and serve court documents and legal notices. When the surety company issues the bond, they provide the government agency a guarantee that the individuals served by an appointed process server will receive payment for financial losses resulting from a violation of the statutes and regulations set forth by the process server’s appointment.
If the process server fails to meet the obligations set out by the court, the surety will pay out any damages up to the bond amount. The process server is liable for the losses and is legally required to reimburse the surety company for any damages paid under the bond.
Process server surety bond costs vary depending on the total bond amount and the premium rate. The government agency sets the required bond amount and the surety company determines your premium rate, which is the percentage of the total bond amount you pay as the premium.
Premium rates for process server bonds tend to range between 0.5% and 1% of the total bond amount. Process server surety bonds generally do not require a credit check, however, it is the surety company’s decision how to underwrite the bond.
Below are the lowest premiums EZ Surety has issued for process server surety bonds in popular states.
You’ll know if you need a surety bond because some entity will have required you to obtain one. They must also inform you of which specific bond type you’ll need. There are thousands of bonds across the country, all of which vary by state and industry.
Visit EZSuretyBonds.com to browse hundreds of bonds by state, type, or industry.
