Illinois receiver bonds.
Court-set penalty, underwritten fast.
A court-appointed receiver, master, or referee takes control of property or a business under the court’s authority. Under 735 ILCS 5/2-415, the appointing court sets the penalty and approves the security. These bonds are underwritten, not flat-rated. Send us the order and a surety specialist returns a quote — usually within one business day.
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How much does an Illinois receiver bond cost?
It is underwritten. The carrier’s base rate is 0.4% of the bond amount; the underwriter sets your premium from the amount, your credit and any collateral.
Built so you can take possession.
The receivership can’t proceed until the bond the court ordered is filed and approved. Here is the whole process:
Send us the order
Apply online with the appointment order setting the penalty and the scope of the receivership. We size from the figure and assets the court identified.
A specialist underwrites it
A surety specialist reviews the receivership, the receiver’s background, and indemnity. Larger estates may call for financials or collateral — we raise that up front.
Execute & file for approval
We issue the executed bond so it can be filed and approved by the appointing court, letting the receiver take possession and act.
How a receiver bond works, and what to have ready.
Why the court asks for it
A court has appointed you as receiver, or as a master or referee, to take charge of property or a business while a case is decided. The court requires a bond before you take control.
Who it protects
The parties to the case and the court. If you fail to carry out the court's orders faithfully, they can recover the loss from the bond, up to the bond amount.
If there is a claim
The surety pays a valid claim and you repay the surety.
Have these ready
- The order appointing you, with the bond amount
- The court, case number and the parties' names
- A description and estimated value of the property or business you will control
- A short summary of your experience as a receiver or fiduciary
- Your attorney's name and contact details
What it is and who needs it.
What a receiver bond covers
When a court appoints a receiver — or a master or referee — to take charge of property, a business, or disputed assets, that person holds significant control over value that belongs to others.
A receiver bond guarantees the receiver will faithfully perform the duties of the office and account for the property under their control. If the receiver mismanages or misappropriates the assets, the affected parties can recover against the bond.
Because the exposure is the receivership estate, the appointing court fixes the penalty and approves the security, and these bonds are underwritten rather than flat-rated. Larger receiverships may require financials or collateral. We size and quote once we see the order.
You need this bond if you’re
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
Term and renewal are set in the underwriter's quote.
Keep the bond in force for as long as the obligation behind it runs.
How to file it
Execute & file for approval. We issue the executed bond so it can be filed and approved by the appointing court, letting the receiver take possession and act.
What sets the price
This bond is underwritten. The carrier's base rate for this bond is 0.4% of the bond amount; the underwriter sets your final premium from the amount, your credit and any collateral.
The application takes about ten minutes.
Tell us about the receivership and attach the appointment order. A surety specialist underwrites it and returns a quote — usually within one business day. Free until your bond is issued.
Start the application →Common questions.
Other Illinois bonds.
The same bond in nearby states.
Requirements checked on the carrier’s application, . Page updated .
Appointed as a receiver?
Send us the appointment order and a surety specialist underwrites and quotes your receiver bond — usually within one business day. Free until your bond is issued.