A court or miscellaneous bond sometimes has an open penalty, which simply means a bond penalty does not have a finite limit. Open penalty bonds carry many risks and hazards because the surety does not know the exact amount of liability it must guarantee. A typical...
Our agency issues many different types of commercial surety bonds besides court and fiduciary bonds. We refer to this class of bonds as “miscellaneous bonds.” The Surety Association of America (SAA) describes miscellaneous bonds as those not within the commercial...
