What is a Bond For Pure Food And Drug Seizure?
A Bond for Pure Food And Drug Act Seizure is a type of surety bond that in involved in the requiring of property that has been seized due to failure to meet proper regulations. The government is allowed to confiscate any goods that are in violation of the Pure Food and Drug Act. This would lead to a court case where the court would decide what the fate of the goods would be.
If the owner of the goods chooses, he or she may apply for a Bond for Pure Food and Drug Seizure that would allow him/her to take the goods back in to possession and personally follow out the court’s judgment. Sometimes, the court may decide that the goods can still be sold with altered labeling, sometimes the goods are considered unfit for consumption and need to be disposed of.
What Does This Bond Do?
The purpose of a Bond for Pure Food And Drug Act Seizure is to guarantee that the owner of the goods will follow the court’s exact judgment. If the judgment is not followed, there will be a claim on the bond and the owner will have to pay up to the amount of the surety bond.
How Much Does This Bond Cost?
The amount of your Bond for Pure Food and Drug Act Seizure will vary by state and possibly the amount of money owed.
The amount you pay for your bond (called the bond premium) is calculated based on a percentage of the total bond amount.
Want to know what you would pay for your Surety Bond? Surety Solutions offers free quotes for court bonds at no charge and with no obligation to buy.
Just give us a call at: 866.722.9239