Corporate Surety - Statement Upon Filing

A corporate surety shall file a statement setting forth the existence or non-existence of an indemnitor or indemnitors. If an indemnitor is obtained, the corporate surety shall certify in writing that all the responsibilities of indemnity have been explained to the indemnitor and that the indemnitor has acknowledged understanding of those obligations. Among the matters explained shall be: 12/1/2025 Chapter III - 13 LOCAL RULES – CENTRAL DISTRICT OF CALIFORNIA • If a condition of the bond is breached, the bond must be forfeited; • The Court is not required to set aside a forfeiture; and • The indemnitor faces liability for forfeiture, court costs, attorney’s fees, and other matters related to the indemnity. If an alternate method of posting bond is provided, the corporate surety also shall certify it has advised the indemnitor that such an alternative is available and that the indemnitor desires to proceed with a corporate surety, knowing of the alternate method of posting bond.