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Supersedeas Bonds, Again!
Today we're going to discuss supersedeas bonds, again. However, in this article, we're going to look at what happens when you need to obtain a stay of execution for an Order in an adversarial proceeding in bankruptcy court. In most cases, there will not be a...
Filing a Discharge Mechanic’s Lien by Bond
In the past, I've discussed the Discharge of Mechanics Lien bonds in the state of New York and the various counties of New York. Today, I'm going to talk about the filing process which falls outside of what a bonding agency handles, which is necessary and pursuant to...
Nevada’s Notice of Non-Responsibility Bond
Today, we are going to discuss a bond that's specifically required in the state of Nevada. In Nevada, there's a revised statute 108.2403 and 108.2415. For a tenant, building out a space in either an office, a mall, or any sort of property, the landlord can provide...
What is the Procedure to Deposit Cash in Lieu of a Bond?
From time to time, clients ask about the procedure to deposit cash with the Court in lieu of a bond. Clients have turned to my office to answer questions on these matters. Since my office does not handle the actual payment of funds into the court nor do I have direct...
DEP Third Party Insurance Requirements for Underground Storage Tanks
In various states, the Department of Environmental Protection (DEP) requires either an insurance policy or financial assurance, which can be an insurance policy, letter of credit, or a surety bond, to protect underground storage tanks from possible sudden accidental...
Looking for a Bonding Agent? What to Ask and Why
Today, we are going to talk about things that you want to be asking your bonding agent. Most people, who are in a situation where they're applying for a bond, are worried about qualifying for the bond and obtaining the bond. What if you're able to obtain a bond and...
The Excise Tax Bond
Today, we're going to discuss what's needed for an Excise Tax Bond, specifically a Tax Fuel Bond under section 4104. The bond ensures that the payment of the tax imposed on fuel under § 4081(a)(1), or § 4081(b) of the Internal Revenue Code, guarantees that the seller...
Bonding in Fiduciary Matters
Clients in the past have asked us about what issues might prevent their client from obtaining a bond from a fiduciary perspective. Prominent among them are: Recent bankruptcies/poor credit, Disputes with family members — especially when the fiduciary matter is related...
Subdivision Bonds — Part 4
Suretyship is one of the oldest professions in the world, but few are familiar with the industry. In a way, a surety bond is similar to having a co-signer for an obligation. It is viewed as an extension of credit. If the developer of a project fails to build what is...