Entries from July 2013

Yellowstone Injunction Bond

by Joshua Malone

A Yellowstone injunction bond allows a tenant to remain in their apartment pending an eviction procedure by the landlord. These bonds guarantee the landlord a court determined penalty usually equal to the bond amount. If the proceedings later determine the landlord had proper cause to evict the tenant, the landlord collects the bond penalty. Thus, […]

Vote for O&P in the NYLJ Reader Rankings!

by Joshua Malone

The New York Law Journal has included us in their 2013 Reader Rankings! We are nominated for “Best Surety Bond Provider.” Click here to fill out your ballot and vote for O&P! The NYLJ provides us with our main source of news about New York’s legal community and our clients. We feel honored to be […]

Balance Sheet

by Joshua Malone

The Balance Sheet acts as one of the principal components of a financial statement. Balance sheets display an entity’s finances on a specific date. Surety bond underwriters thoroughly analyze a balance sheet to understand what kind of assets, liabilities, and equity a business has at a moment in time. The entity’s assets appear on the […]

Business Entities and Limited Liability

by Joshua Malone

Underwriters must consider a principal’s structure of business when determining whether to approve the principal’s bonds. Businesses have different types of ownership, and thus underwriters must determine which owner, owners, or entities need to indemnify the surety. Depending on the structure of business, these indemnitors may have limited or unlimited liability. A single owner of […]

AFSB Insurance Designation

by Joshua Malone

The AFSB designation is the preeminent designation in the surety industry. Our office prides itself on our expertise and knowledge of the surety industry, and specifically on commercial surety. In order to prove and demonstrate our commitment to the surety industry, all employes of O&P pursue insurance designations related to our area of business. The […]

Why Do Courts Require Surety Bonds Instead of Security Deposits?

by Joshua Malone

Why do courts require surety bonds instead of cash or security deposits from litigants, guardians, and other principals? Generally, courts do not have the capacity to manage and keep track of cash collateral or security deposits. In the past, courts have misplaced deposited funds. Attorneys and their clients also struggled to get their deposits back […]

Happy July Fourth Weekend!

by Joshua Malone

Everyone at OFFENHARTZ & PEDERSEN, LTD. and NATIONWIDE BAIL BONDS would like to wish you a Joyous July Fourth Holiday Weekend! Celebrate America’s birthday by honoring all the great things our country offers to us each and every day. Celebrate the Red, White, and Blue with lots of festivities, family, and friends! If you happen […]

Qualified Domestic Trust (QDOT) Bond

by Joshua Malone

A Qualified Domestic Trust (QDOT) bond is in favor of the Internal Revenue Service (IRS) to guarantee the payment of taxes due on such a qualified domestic trust. A QDOT is a very specific type of trust. A wealthy American citizen sets up this type of trust, prior to his or her death, to defer […]