An Open Default Judgment Bond is necessary when a defendant is able to reopen a case where judgement has been entered by default. The Open Default Judgement Bond guarantees payment upon any judgement subsequently rendered.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Open Default Judgment Court Bond holds you accountable for your decisions.
By possessing a Open Default Judgment Court Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your decisions.