A temporary restraining order bond is a form of financial assurance that provides indemnity to a restrained party if the underlying TRO is later found to have been inappropriate AND that the restrained party has suffered damages as a direct result of the constraints created by the order. A temporary restraining order, or "TRO" is an emergency judicial remedy. Generally TROs are issued under exceptional circumstances and must be calendared for an expedited hearing on the evidence supporting the same. Much like an injunction, a TRO's purpose is to "preserve the status quo" until the aforementioned evidentiary hearing can take place. Likewise, a temporary injunction bond is similar to an injunction bond.
Why a TRO rather than a preliminary injunction? The answer to this question is largely based on the degree of emergency that the the restraint or injunctive relief is. An injuction is generally issued after the moving party files a motion for injunction, serves notice on the opposing party and argues the appropriateness of the injunction before a magistrate or judge. By contrast, a temporary restraining order may be granted upon motion "ex parte", and a brief review of the affidavit(s) and complaint proffered in support of the request. Upon finding that unless a TRO is immediately granted, the petitioner may suffer irreparable harm, injury, loss or damage, the court will grant the motion and may order a temporary restraining order bond in an amount sufficient to indemnify the restrained party from loss. When issued on behalf of plaintiffs, TRO bonds are fairly low risk obligations however they generally do carry more risk to surety than preliminary injunction bonds because of the absence of cross-evidence presented by the restrained party.
Ferederal temporary restraining order bonds in U.S. District Court cases are regulated by different rules. Read more here.
A temporary restraining order bond must be issued by a surety company with a current certificate of authority n the jurisdiction wherein the TRO action is filed. Quoting a TRO bond is accomplished by a surety bond underwriter with knowledge of judicial bond obligations. Surety bond leader, Surety One, Inc. specializes in surety bonds for federal, state and local trial courts, tribal courts and courts of appeals. Application submissions are reviewed and responded to within one hour of receipt. We are the most agile court bond 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 temporary restraining order bond or other litigation surety need.
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