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Appellate Bonds Cont’d. [VIDEO]
In my last video on this topic, I covered the reasons why you would use an appellate bond. In New York State, once a judgment is entered, the other side can execute upon it. In this video, I want to talk about what happens when that judgment is being executed upon....
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Appellate Bonds [VIDEO]
This is the first of a multi-part series about appellate bonds, also known as supersedeas bonds, undertakings on appeal, and stay bonds. This part of the series describes the purpose of an appellate bond, which is to guarantee the payment of the judgment once the...
Supply Bonds [VIDEO]
When you have a contract to supply certain items, a supply bond guarantees the buyer that the purchased items will be supplied. If the items are not delivered or the quality is not satisfactory, the supply bond provides the buyer with a means of recourse. Please give...
The Importance of Insurance Coverage for Bonds
Today I want to talk about the importance of insurance coverage and help you understand when an insurance policy provides or requires the insurer to indemnify a surety company for a bond on behalf of their insured. It is important to know if there is a policy that...
Third Party Indemnity Related to Court Bonds
There are times when a client needs to obtain a bond and is unable to do so. In cases like these, a third party could be willing to guarantee the bond. This would require the third party to execute an Indemnity agreement with the surety in addition to the bond...
Courts Reopening: Get Those Bonds Prepared Now [VIDEO]
The COVID-19 pandemic closed non-essential businesses, restaurants, and courts. Now that the curve is flattening, courts are reopening, but the line of attorneys trying to file things will be out the door. This blog discusses the advisability of preparing bonds now so...
Cancelling a Notice of Pendency
(3 minutes to read) Today, I'd like to talk about the New York Consolidated Laws, Civil Practice Law, and Rules — CVP § 6515 subsection (2), which concerns the cancellation of a Notice of Pendency where both the plaintiff and the defendant are required to post...
Out-of-State Insurers Need Bonds to File in New York
Insurance Law ISC 1213 provides that, when a non-admitted insurer is involved with a court proceeding involving one of their insurance contracts, they can be required to post a surety bond or an undertaking to proceed with their filing. The insured is the party...
Neil Pedersen: Guardianship Bonds Explained [Video]
If you have been named a Guardian of someone, either because they are incapacitated or a minor, you are required to obtain a Guardianship Bond. Learn more about the process to Guardianship Bonds in our new video.
What Is a Money Transmitter Bond?
A Money Transmitter Bond is a surety bond that represents a three party agreement between a principal, an obligee, and a surety. The principal is the one who needs the bond (you), the obligee is the state agency requiring you to get the bond, and the surety bond...