Qualifying for appeal bonds can be difficult. Applicants must post collateral worth 100-110% of the bond amount upfront in addition to paying a premium. SuretyBonds.com is legally licensed to issue appeal bonds in every state.
Appeal bonds ensure that original judgments are paid if an appeal is unsuccessful. These bonds discourage individuals who lose cases from filing frivolous appeals. Without appeal bonds, abusing the appellate system would be much easier. For example, without an appeal bond, a party might file an appeal to stall payment if they cannot afford the court ordered sum.
How much does an appeal bond cost?
Appeal bond premiums are calculated on a case-by-case basis. Since the likelihood of winning an appeal is so low, applicants must post collateral worth 100-110% of the bond amount to even qualify. Because the full bond amount is collateralized, the applicant’s credit doesn’t typically affect the bond cost as it would with other bond types. If the appeal fails, the collateral would ensure the original judgment is paid.
How do I get an appeal bond?
To apply for your bond, simply fill out our online bond request form, or give us a call us at 1 (800) 308-4358 to speak with a surety bond expert who will walk you through the process. Once the collateral has been secured and the premium payment has been processed, your bond will be issued. You’ll receive a copy of your bond via email, and your original bond form will arrive via your preferred shipping method. Overnight shipping is available if you’re in a rush.
How do appeal bonds work?
The entity requesting the appeal must file a bond to cover the cost of the original judgment (in case the appeal were to fail) and the court costs associated with the appeal. The bond serves to protect the party that the court ruled in favor of during the first proceeding. If the losing party - whether an individual or business - claims bankruptcy during the appeals process, the bond ensures the winning party will still be compensated as required.