Court Bonds
Trustee Bond
A guarantee that a trustee will manage a settlement trust in the beneficiary’s best interests.
Our Trustee Bonds provide financial protection against the risk of mismanagement of trusts.
Benefits of a PCBS Trustee Bond:
- Promotes the efficient, responsible and legal administration of a settlement trust.
- Compensates a beneficiary who experiences loss due to a trustee’s negligent, unethical or illegal behaviour.
Apply for a PCBS Facility or Bond in 2 steps:
1. Download and complete the relevant application form
2. Email the completed form and all supporting documents to tunga@pcbs.co.za and adam@pcbs.co.za
FAQs
What is the main purpose of a Court Bond?
A Court Bond’s main purpose is to ensure that a person appointed to act in a fiduciary capacity performs their duties honestly, competently and according to the law.
When is a Court Bond needed?
Executor Bonds are needed for the administration of estates, Curator Bonds are required when someone is appointed to manage the affairs of individuals incapable of doing so themselves and Trustee Bonds are needed for the administration of settlement funds.
What do Court Bonds cover?
Claims can be made against a Court Bond if the following occur: mismanagement of funds or assets under custodianship, fraud or dishonesty, negligence, or failure to comply with court orders or fiduciary duties.