Judicial Bonds are a type of court bond required in civil court proceedings when someone involved in a lawsuit seeks a special right or remedy in advance of a final court decision. It guarantees that if the opposing party incurs damages as a result of the special privilege being granted and the court later determines the privilege was unjustified—rules in favor of the opposing party—the obligee will be made whole. Below are just a few of the Judicial Bonds Brunswick Companies can issue.
Admiralty courts have jurisdiction over the high seas and the navigable waters of the United States. Under Admiralty Law, a ship is a legal person and a legal action is permitted against the ship rather than the company who owns it. One of the principal remedies in Admiralty Law is the maritime lien against a ship. It is in connection with such liens that Admiralty Bonds are required.
The Replevin Bond, subject to its terms, guarantees the plaintiff will return the covered property along with any damages and costs to the defendant, if resolution of the lawsuit favors the defendant. A Counter Replevin Bond, therefore, guarantees that property will be surrendered or its value will be remitted to the plaintiff, if the court decides in favor of the plaintiff.
An Injunction is a judicial order issued by a court to the plaintiff whereby the defendant is required to do or refrain from doing a particular act until the issue is decided in court. An Injunction Bond is a type of judicial bond required in civil court proceedings which guarantees that the plaintiff will indemnify the defendant against all damages and costs if the court rules in the defendant’s favor.
If you are in need of another form of coverage, Brunswick offers several other Court Bonds as well.