IFIC-App-Court Bond1	IFIC Wiring instructions for collateral - Esc 2	IFIC Collateral Agreement

 

Rate 2% of Bond penalty.

Release of Mechanic's Lien Bond: A mechanic's lien can be removed from real property by recording a release of mechanic's lien bond. In some states, the party filing the bond must serve a copy of the bond on the lien claimant. The bond then stands in place of the property as security for the lien claimant's claim.  (This bond is typically collateralized.)

In order to effectively assist you with an Mechanic’s Lien Bond please attach a copy of the Lien. We will need you to provide us with the following information which is generally integrated within the court order and is requested within the appropriate section of the required bond application:

Bond amount is 110% of lien amount.  Collateral is 110% of Lien amount.

1. Copy of the Order fixing the bond amount.
All the information needed in the preparation of the bond is obtained from here.

2. Detailed financial statement
This is a financial guarantee bond that usually requires 110% collateral and satisfactory demonstration of the applicant’s financial ability. Therefore, please provide a current detailed financial statement from the applicant.

In addition to the court order, please complete, sign, and return the attached Bond application in the sections indicated.