Bankruptcy Trustee Bond
What is a Bankruptcy Trustee Bond?
A Bankruptcy Trustee Bond is a type of Commercial bond that ensures that a bankruptcy trustee fulfills their fiduciary duties in managing and distributing assets to creditors.
Protects creditors from mismanagement or misuse of assets by the bankruptcy trustee.
Required by bankruptcy courts for trustees to ensure responsible handling of assets during bankruptcy proceedings.
Applicant’s personal information, credit history, bond amount, and bankruptcy case details.
Based on credit history and bond amount, usually 1-3% of the bond amount for applicants with good credit.
