Child Custody Bond
What is a child custody bond?
A child custody bond is a court and probate bond that offers protection for children in cases where the parents are undergoing divorce proceedings. The courts may require this bond if they suspect that a parent may violate the terms of their child custody decree or abuse their visitation rights. One of the parents may also request the bond if they think the other parent could violate a custody order.
When evaluating whether to require this bond, the judge will consider the welfare of the child, the terms of custody, visitation rights, a parent’s history of violations, and the potential risk of future violations. This bond is often mandatory if one parent either lives internationally or has violated custody terms in the past.
Get Your Child Custody Bond:
Quick Takeaways
- A child custody bond is a court and probate bond offering protection for children while their parents are undergoing divorce proceedings.
- When evaluating whether to require this bond, a judge will consider the welfare of the child, the terms of custody, visitation rights, a parent’s history of violations, and the risk of future violations.
- This bond is often mandatory if one parent either lives internationally or has violated custody terms in the past.
- Many applicants pay between 1-5% of the bond amount required.
- 100% collateral may be required to obtain a child custody bond due to its high-risk nature.
Who needs this bond?
If the court has evidence that a parent has taken a child to an unauthorized location or violated their visitation terms, they may require a child custody bond before authorizing a divorce. The bond ensures that a parent will return their child after taking a long- or short-term trip away from their current residence.
Here are common scenarios where child custody bonds may be appropriate:
- When one parent plans to relocate to a new residence, the other parent can request a bond to ensure the former will honor the divorce or custody decree.
- If a parent is planning an international trip with the child, a surety bond ensures they will return with the child as promised.
- If one parent fears that the other won’t return their children after taking them on vacation, they can request a child custody bond.
How do child custody bonds work?
A child custody bond is a three-party contract between an obligee (the court), a principal (a parent), and a surety. The bond holds parents accountable to following the terms of their child custody orders and visitation agreements.
- Obligee: A judge determines the bond amount and requires a parent to post the child custody bond during or after divorce proceedings.
- Principal: A parent must post a bond (and sometimes collateral) to guarantee the court that they will abide by the terms of the child custody decree. If they break the agreement, they forfeit the security amount.
If a parent breaks the agreement, the other parent can file a claim on the bond. If the claim is valid, the surety company will settle the claim upfront. However, the bonded parent must reimburse the surety for all costs involved – plus interest and fees.
How much does a child custody surety bond cost?
The bond amount required will depend on various factors, including:
- State statutes
- Your credit score
- Your financial capacity
- The amount required to discourage abduction
- Specifics of the case
Many applicants pay between 1-5% of the bond amount required. Just remember that you may also need to put up collateral for the same amount. Call ZipBonds with any questions regarding this bond or the application process. Our number is (888) 435-4191.
Frequently Asked Questions
How long will my child custody bond last?
This bond must remain active for one or more years – however long the court deems necessary. Only the court can release this bond.
Do I need collateral?
100% collateral may be required to obtain a child custody bond due to its high-risk nature. There are two main types of collateral you can offer:
- An irrevocable letter of credit (guaranteed by a bank)
- Cash or liquid assets (that can quickly be converted into cash)
What happens if someone files a claim on my bond?
If someone files a claim on your bond (such as your ex-partner), your surety will investigate to determine if it’s valid. If it is, your surety will settle the claim right away if you don’t. They will then hold you accountable for repaying them in full for any associated costs. You will also lose any collateral you’ve posted.
How to Apply for Your Child Custody Bond
If you need a child custody bond, submit an application along with your court order and personal financial statement, and we’ll get you bonded in no time. Call (888) 435-4191 if you need have questions along the way or need help applying. We’d love to help you out!
About ZipBonds.com
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.