Judicial Bonds
Attachment Bond
Bond required to obtain a writ of preliminary attachment against a defendant's property.
Overview
An attachment bond answers for damages the adverse party may sustain if the court later finds that the attachment was wrongfully obtained.
The amount is fixed by the court and typically relates to the value of the claim or the property attached.
Purpose
- Enables issuance of a writ of preliminary attachment.
- Answers for damages from a wrongful attachment.
- Secures the defendant's position while the case proceeds.
Typical uses
- Collection cases with risk of asset disposal
- Fraud-based claims seeking asset preservation
- Enforcement of contractual money claims
Who normally requires it
- Plaintiffs applying for attachment
- Creditors pursuing collection
- Counsel filing provisional remedies
Parties involved
- Principal — the litigant, appellant, or court-appointed fiduciary
- Obligee — the adverse party, the estate, or the court requiring the bond
- Surety — the insurance company accredited to issue judicial bonds
Typical documentary requirements
- Accomplished bond application form with obligee and transaction details
- SEC or DTI registration, Articles of Incorporation, or business permit
- BIR Certificate of Registration and latest filed tax return
- Audited financial statements for the last two to three years
- Valid government IDs of signatories and board or partnership authority
- Complaint and application for attachment
- Court order fixing the attachment bond amount
Final requirements depend on the obligee and the issuing insurance company. See the full requirements guide.
Typical application process
Step 1
Submit the application
Open an application in your SuretyPH portal and enter the obligee, transaction, and bond details.
Step 2
Upload requirements
Follow the guided checklist and upload each document securely to your application file.
Step 3
Pre-assessment
We review the file for completeness and endorse it to an authorized issuing insurance company.
Step 4
Quotation
The insurer evaluates the submission and issues a quotation covering premium, fees, and any collateral requirement.
Step 5
Payment and issuance
Once the quotation is accepted and the premium is settled, the insurer issues the bond for release or delivery.
Risks typically covered
- Damages from a wrongfully issued attachment
- Loss of use of the attached property
- Costs awarded to the adverse party
Frequently asked questions
What if the attachment is later lifted?
The bond answers for damages proven by the adverse party, within the bond amount.
Is a counterbond different?
Yes. A counterbond is posted by the defendant to discharge the attachment.
More answers on premiums, collateral, and timelines are in the general FAQs.
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SuretyPH is a digital platform for surety bond information, inquiries, requirements and request tracking. It does not underwrite, approve, bind, issue, or guarantee any insurance policy or surety bond. Evaluation, underwriting, approval, pricing and issuance are undertaken by the applicable licensed insurance company.