A replevin bond is a judicial surety bond which provides indemnity to the law enforcement officer that executes a writ of replevin and protection to the party subject to the replevin. A defendant or other party from whom specific property was seized may suffer damages as a result of said seizure. That party also has the right to a return of the property in an undamaged condition should he or she prevail in the suit. The obligation guarantees safekeeping of the property, return of the same, and the payment of consequential damages as may be ordered.
Replevin (replevy) is an action usually commenced by a plaintiff that has an ownership or repossession interest in specific goods or chattels. It is a provisional prejudgment remedy which empowers the movant to take disputed property from another party and hold the same during the pendency of the suit “pendente lite”. These motions are also known as sequestration or claim and delivery pleadings. Replevin is a common between individuals and companies that are parties to property subject to finance agreements such as automobiles. So that a replevined party can continue to possess and use the property in dispute, a counter replevin bond and action can be commenced to nullify the replevin action.
A replevin bond must be issued by a bonding company licensed in the jurisdiction wherein the replevy action is to be filed. Quoting a replevin bond is accomplished by a surety bond underwriter with knowledge of court bond obligations. Surety bond leader SuretyOne.com specializes in bonds for federal, state and local trial courts and courts of appeals. Bond application submissions are reviewed and quoted within one hour of receipt. Surety One, Inc. is THE most responsive judicial bond underwriter in the legal sector. Call (800) 373-2804, or email us at Underwriting@SuretyOne.com for sequestration bond application or for any court bond need.
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