Difference Between Preliminary Injunction and Temporary Restraining Order (TRO)

by Joshua Malone

The difference between a temporary restraining order (TRO) and a preliminary injunction seems fairly subtle. In litigation cases, the terms sometimes get used interchangeably. Both a TRO and a preliminary injunction provide a remedy for an allegedly aggrieved party and typically require an undertaking to provide monetary relief to the alleged aggressor. According to NY […]

Happy Thanksgiving

by Joshua Malone

Offenhartz & Pedersen, LTD. would like to wish you and your family a healthy and happy Thanksgiving weekend! Thanksgiving is a time for gratitude, and we would like to thank our business partners, clients, and colleagues for a great year of service and their tireless efforts. Remember – we are available over the Thanksgiving holiday […]

Discharge of Mechanic’s Lien for Public Improvement Bond in New York

by Joshua Malone

Discharge of Mechanic’s Lien for Public Improvement bonds are very rare but they share some similarities to regular Discharge of Mechanic’s Lien (DML) bonds. These bonds arise in situations where a subcontractor, hired by a Principal contractor, has not received payment for work performed on a public project. In most cases, public entities require contractors […]

More About Qualified Domestic Trusts (QDOTs)

by Joshua Malone

In a previous blog post, I discussed the requirements and characteristics of a Qualified Domestic Trust (QDOT) bond. This post supplements the previous one by including more helpful information. Alternatives to QDOT bonds include irrevocable letters of credit or having a bank as the US trustee. A surety bond is the best option for an […]

Surety Agent Responsibility in the Underwriting Process

by Joshua Malone

Bond applicants and principals seeking surety bonds work with bond producers, such as surety agents and brokers, to satisfy their needs. Surety agents have the responsibility of underwriting surety bonds before submission to the surety for approval. When a surety agent receives a request for a bond from an applicant, the surety bond underwriting process […]

Guarantee Return of Child Bond

by Joshua Malone

Today’s New York Law Journal featured a story about the Second Circuit ordering the return of a child to Singapore in an international custody dispute. The story calls to mind a rare bond our office can underwrite, even if it may not apply to the details of this particular case (Read the story on the […]

What is a Supersedeas Bond?

by Joshua Malone

This blog post intends to describe and explain one of our specialties – the supersedeas bond. When a judge rules a monetary judgment in favor of a plaintiff, the judge orders the defendant to pay the plaintiff in the amount of the judgment. However, if the defendant disagrees with the judge’s ruling, the defendant appeals […]

Receiver Bond

by Joshua Malone

In business litigation proceedings involving foreclosures, a Plaintiff, often a bank or mortgage lender, requests the court to appoint a receiver for their benefit. The receiver has the job of managing real property after the loan’s principal has defaulted. Most often, the court appoints a neutral third party, usually a prominent attorney, as the receiver. […]

Premium Renewals

by Joshua Malone

Most of the surety bonds we underwrite automatically renew yearly. Therefore, we send invoices to our clients once a year on the month their bond renews. The bond renews the same month we issued during the first year. When clients sign the indemnity agreement, they agree to timely pay all due premiums for the entire […]

Bond Applications

by Joshua Malone

We often receive a lot of questions from applicants when they fill out an application for a bond. Applications differ from surety to surety, and some applications correspond to specific types of bonds. However, all applications ask for the following basic information: Full Name Address Social Security Number Current Employment Type of Bond and Amount […]