You’ve probably heard of appealing a judgment in court after an unfavorable judgment. But what you probably haven’t heard of is the bonding requirement for being able to go through with that appeal. That’s where the appeal bond comes in.
Appeal bonds, also known as supersedeas bonds, are a type of court bond that is required by a court in order to be able to go ahead with your appeal of a judgment and stay enforcement of that initial judgment. Both state and federal courts can require appeal and supersedeas bonds. Appeal bonds serve as protection against abuse against the system from unnecessary plaintiff appeals upon unfavorable judgments, ensuring the good faith and intent of the appellate to commit to the final ruling if unfavorable. These bonds guarantee that, if the appellate loses the appeal, they will fulfill the obligations of the original judgment. Otherwise the collateral required to be posted to obtain this bond in addition to the bond amount can be seized by the party whose favorable judgment is being appealed.
In order to obtain an appeal bond, collateral in the amount of at least 100% of the bond amount must be posted in addition to the bond’s premium itself. The amount of the bond is determined by the state appealing in and the original judgment amount. Purchasing an appeal or supersedeas bond also requires posting the initial court’s judgment. The bond is in place until final judgment of the case in the appellate court, with a stay of enforcement granted upon a brought appeal until that final judgment.
Colonial offers the direct and digital way to obtain an appeal or supersedeas bond. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print or e-file your bond from your office. It’s that simple!