A federal attachment bond is a prejudgment remedy contemplated under 28 U.S. Code §3102. Any property in the possession, custody, or control of a debtor in which the debtor has a substantial nonexempt interest may be attached pursuant to a writ of attachment in an action or proceeding against him or her. The property may may be held as security to satisfy a judgment, interest and costs that may result in a judgment against the debtor.
Pursuant to subsection (b), "If the requirements of section §3101 (Prejudgment Remedies) are satisfied, the court shall issue a writ authorizing the United States to attach property as it may recover on a claim for a debt. In an action on a contract, express or implied, against the debtor for payment of money, only if the United States shows reasonable cause to believe that, (A) the contract is not fully secured by real or personal property; or (B) the value of the original security is substantially diminished, without any act of the United States or the person to whom the security was given, below the amount of the debt;"
A court order of attachment is considered a "severe remedy" because an improper seizure or "freezing" may cause the affected party to suffer grave damages for which the movant is responsible. An attachment bond guarantees that the movant will pay to or otherwise perform specific acts to "make the prejudiced party whole" if his or her attachment is later found improper. This civil undertaking is generally required by court order and the bond penalty (bond amount) set by the court. An attachment bond remains in effect until the court issues a permanent order, the original attachment order is dissolved, the attached party replevies the property with the deposit of appropriate security or the case is adjudicated. Pursuant to 28 U.S. Code §3101, this prejudgment remedy generally may not be granted on an ex parte basis.
A federal attachment bond must be issued by a surety company licensed in the jurisdiction wherein the civil action is filed and must appear on the U.S. Treasury's list of sureties (the "T-List") acceptable for federal obligations. Quoting an attachment bond is best accomplished by a surety bond underwriter with knowledge of judicial obligations. Judicial bond leader, Surety One, Inc. specializes in surety bonds in federal, state and local trial courts and courts of appeals. Application submissions are reviewed and responded to within one hour of receipt. We are the most agile surety underwriter in the United States. Call (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for a live chat with an underwriter for further information or to discuss your federal attachment bond or other litigation bond need.
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