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  1. Bond Magician
    Bond Magician is offline Senior Member
    Join Date
    Oct 2007
    Posts
    401

    Joint Control Agreement

    What is a joint control agreement? I was told that I need to sign one of these in order to get a court bond. Can you explain it to me?
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  2. Max Slivens
    Max Slivens is offline Surety Professional
    Join Date
    Nov 2007
    Posts
    7

    A Joint Control Agreement is a document signed by the Principal on a Bond and their Attorney. It states that no expenditures can be made, and no withdrawls can be processed without consent of both the Attorney and the Personal Rep/Administrator/Executor. It gives the Surety Company some assurance that the funds will be handled "properly". Without Joint Control or Court-imposed restrictions, theoretically the Principal could abscond with the Estate's monies, thereby leading directly to a claim against the Bond.
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