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Understanding appeal bonds
Appeal bonds ensure that original judgments are paid if an appeal is unsuccessful. These surety bonds discourage individuals who lose cases from filing frivolous appeals and prevent abuse of the appellate system. For example, without an appeal bond a party could file an appeal to stall payment of a court-ordered sum. An appeal bond ensures that the responsible party will pay the court-mandated sum if the appeal fails.
How much does an appeal bond cost?
The cost of an appeal bond premium varies case-by-case, but is generally approved at 2% of the bond amount. In addition to this premium, applicants must post collateral worth 100% of the bond amount to qualify for an appeal bond. Collateral is required due to the low likelihood of winning an appellate case. Unlike other surety bonds, the applicant’s credit doesn’t typically affect the bond cost because the full bond amount is posted as collateral.
How do appeal bonds work?
The party requesting the appeal must file a bond that covers the cost of the original judgment (in case the appeal were to fail) in addition to the court costs associated with the appeal. The purpose of the supersedeas bond is to protect the party that the court ruled in favor of during the first proceeding. If the losing party claims bankruptcy during the appeal process, the bond ensures that the winning party will still be compensated.
How do I get an appeal bond?
SuretyBonds.com is legally licensed to issue appeal bonds in every state.
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. We are ready to walk you through the process of obtaining your appeal bond.
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. We also have overnight shipping available if you’re in a rush.