Appeal Bond

An appeal bond ensures that if an appeal is unsuccessful, the payment of the original judgment of the court will be paid. The party that is appealing the court's ruling is required to purchase an appeal bond

The appeal bond is required to discourage people from appealing to stall for time and other reasons that waste the court's time.

Who must obtain an appeal bond?

The person filing for the appeal must acquire an appeal bond to cover the cost of the original judgment pending the appeal fails and also the court costs of the appeal.

Either the prior defendant or plaintiff of a case can file an appeal. Regardless, they must supply an appeal bond.

Why do courts require an appeal bond?

Appeal bonds discourage frivolous appeals. If the bond were not in place many would abuse the appellate system. For example, a party might file for an appeal to stall for time if they cannot pay the court ordered sum.

However, with the requirement to purchase an appeal bond the idea of saving money is null and void. The appeal bond costs the amount of the previous judgment in addition to interest and court costs.

The bond also protects the interest of the party that the court ruled in favor of during the first proceeding. If the losing party, whether an individual or business, goes bankrupt during the appeals process the appeal bond ensures that they will be compensated.

Who sells appeal bonds and how much to they cost?

Appeal bonds are a type of surety bonds and can be purchased from bonding or insurance companies, including SuretyBonds.com. In this case, the bonding company guarantees that original judgment by the court will be honored if the appeal fails.

The price of appeal bond depends on the original ruling of the court. The amount of the first ruling plus interests and court costs is likely to be the amount you have to pay to purchase an appeal bond.