Caution
On granting a financial order the Sheriff may decide to set caution. Caution is an insurance bond that is designed to protect the adult’s estate against financial loss as a result of a guardian’s mismanagement.
What happens if caution is set?
Your solicitor will normally make arrangements with the caution company on your behalf. We will not issue a certificate of appointment until confirmation is provided that the bond of caution is in place. If it has not been lodged with us under the terms of the court order, you will be required to make a further application to the sheriff court, requesting extra time to find caution. Until the bond of caution is lodged you will not be able to exercise any of the powers granted by the Sheriff.
What happens if caution is dispensed with?
If the Sheriff decides that caution is not needed, then we will issue you with a certificate of appointment straight away along with a copy of the court order.
What happens once caution is found?
Once we are satisfied that the bond of caution is in place we will issue you with a certificate of appointment along with a copy of the court order.
What happens if the level of caution needs to be changed?
You may want the amount of caution to be increased or decreased so that it remains in keeping with the level of the adult's estate. In some cases we will have been granted authority to vary the level of caution in the court order appointing you. If this is the case we will consider the level of caution when we have reviewed your annual account. If we do not have this authority then you will need to apply to the sheriff court to have the amount of caution changed.