An appeal bond is brought forth by a petitioner appealing the court’s verdict and is usually in the amount of the original judgment (though it could be more). Referred to as a safety net bond or a supersedeas bond, it helps protect the court from frivolous appeals that cost the court time and money. An appeal bond ensures that the responsible party will pay the court-mandated sum if the appeal fails.
Rules for an appeal bond will vary state to state, the jurisdiction, or state vs. federal court. Contact a bonding agent specialist to secure and understand your options.
WHAT IS AN APPEAL BOND?
A person who wants to appeal a judgment against them to a higher court will most likely need an appeal bond, sometimes referred to as a supersedeas bond. Any party can bring forth an appeal after a judgment has been made in civil litigation. The amount of the bond is usually the same amount as the judgment owed. The purpose is to delay payment of the ruling until the appeal case is over. The appeal bond holds the dependent liable to the other party should the appeal be unsuccessful. This safety net provides the court with a source of proof that the judgment can be paid – even if the appeal fails.
Appeals can take a long time to be ruled upon; in some cases, an appeal could take years. During this time, both parties may have expansive out-of-pocket costs to cover legal fees and other related expenses associated with the case. Appeal bonds must be paid to the court or a third party to demonstrate good faith and intent to commit to the final ruling, covering court costs if the appeal is unsuccessful.