General Bond

To answer the judgment of a court in all or any actions that may be brought in which a vessel is attached or arrested, an owner of the vessel may file a general bond or stipulation, with sufficient surety as approved by the court.  Where such a general bond is filed, execution of all subsequent process against the vessel will be stayed so long as the amount secured by the bond or stipulation is at least double the aggregate amount claimed by plaintiffs in all actions begun and pending in which the vessel has been attached or arrested.  Fed. R. Civ. P. Supp. Admiralty Rule E(5)(b) provides that the giving of a special bond or stipulation in a particular case causes liability on the vessel’s general bond or stipulation to cease as to that case.  The rule further states that the district court may make necessary orders regarding a general bond.  Moreover, it may prescribe the means of giving proper notice of any action against or attachment of a vessel subject to a general bond and may require further security at any time.


Inside General Bond