Surety Bonds for Appeal Bonds
What are Appeal Bonds?
An appeal bond (also known as a supersedeas bond) is used (as the name suggests) when going through an appeal for a court decision. It makes sure that the defendant or plaintiff will be able to pay any claims on the bond that may come about if funds are not available to pay the winning party, as ordered by the court. An appeal bond helps to deter either party from filing lighthearted appeals, and in essence, wasting the court’s time. It also deters the applicant from using the appeal process to stall paying the judgment. It is important to note, that an appeal bond is sometimes referred to as an “appeals bond”, which is an incorrect version of an appeal bond.
If one has sound financial backing, there may not be any request for collateral. If collateral is needed, it will need to be worth as much as 100-110% of the bonded amount, in addition to the premium. This is because, the chances of winning an appeal are relatively low, making an appeal bond a high risk surety bond. If an applicant’s financial history is strong enough, collateral may not be requested, for example with a Fortune 500 company. If the applicant loses the appeal, they will have to pay as much as the full bonded amount.
Is an appeal bond known by any other name?
Yes, a supersedeas bond.
What is an appeal bond used for?
To ensure that the defendant or plaintiff will be able to pay any claims on the bond that may come about if funds are not available to pay the winning party, as ordered by the court.
Get an Appeal Bond today!
1) Fill out the form on our website – this takes 30 seconds of your time and we will get back to you with a quote in less than 24 hours (oftentimes within the hour).
2) Call us directly at 781-559-0568 – we are here to help!