What are Court Bonds & How to Get One

A court bond is a suretyship issued by an insurer in favour of the master of the high court for the due and proper performance of the appointeeā€™s obligations and duties towards an estate which he/she is administering.

The surety being the insurance company guarantees to pay the master, the obligee, a certain amount if the executor/curator/trustee (the principal) fails to meet its obligation, such as the proper administration of all estate funds.

Upon a dereliction of duty, the master may call upon the bond and demand payment from the surety of the loss suffered by the estate. At all times the surety acts as a co-principal debtor with the executor/curator/trustee.

Should a demand be made to the surety it is not without its remedies, it may pursue the executor/curator/trustee in office for the amount which it has paid.

Shackleton Risk offers court bonds to pre-approved applicants. At Shackleton Risk we are able to place any size court bond within a matter of hours once the applicant has been approved.

At Shackleton Risk, our turn-around time and service is unprecedented allowing us to remain the market leaders in security bonds.

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