Process Server Bond
Obtaining a process server bond is normally a prerequisite for individuals seeking to obtain a license to conduct business as a process server. A process server is a person who delivers a legal notice to a party involved in some kind of lawsuit, although the process server is not involved in that lawsuit in any other way. The bond serves as a kind of guarantee that the process server will fulfill the requirements of their duty while complying with rules and regulations appropriate to the city, county, or state. One of those requirements is that the process server (also known as summons server) must deliver the legal notice in a timely manner so that the recipient can quickly react to it.
Who is protected by a process server bond?
A process server bond provides protection for the state and those parties the process server is working for. If the server does not fulfill the obligations of his office, a claim may be filed against that bond and compensation may be requested by the aggrieved party. Usually, the grounds for filing a claim include mishandling of documents that were provided to the legal server or some kind of partial execution of duties.
In essence, the summons server bond is an agreement between three parties: the surety company which issues the bond to the principal, the principal who, in this case, is the summons server, and the obligee which is the court requiring the summons server to purchase a bond. When a legitimate claim is filed by the obligee against that bond, the surety company is obliged to pay the amount of that claim, after which it will seek reimbursement from the principal, who caused the breach of service for the bond.
Who must obtain a process server bond?
Process server surety bonds are only relevant to individuals who intend to become professional process/summons servers. In addition, some states do not require that a professional summons server obtain a bond to be licensed, although the majority of states do make it a requirement. In most cases, obtaining a bond is one step in the licensing procedure the individual must follow.
What is the cost of a process server bond?
The cost of a bond to the server is always some percentage of the total amount of the bond itself, and the total amount of the bond is determined by the appropriate state. In most cases, bond amounts vary between $2,000 and $10,000, and individuals who have a good credit history would be required to pay between 1 percent and 3 percent of the bond amount. Individuals with bad credit may still obtain a process server bond but can expect to pay a higher percentage of the bond amount, because they represent a greater risk to the surety company issuing the bond.
These bonds are extremely fast and easy to complete and most can be delivered to you the same day. Our team has worked in the surety business since 1984 and we have the expertise and solutions you need. You're going to love how easy our bonding team can help your business.