If you just lost your case, you may be feeling like there is nothing you can do to change the court’s decision. However, this is not necessarily the case! You may have the right to appeal your case or challenge the decision of the case in a higher appeals court. In order to convince the court you can pay the judgment, you will have to post an appeal bond.
An appeal bond, also known as a supersedeas bond, is the bond a losing party is required by the court to secure the right to appeal and stay a judgment. While both federal and state courts require appeal or supersedeas bonds, the amount of these bonds may vary by jurisdiction. Appeal bonds serve as protection against abuse of the court system from needless plaintiff appeals upon unfavorable judgments, ensuring the good faith and intent of the appellate to commit to the final ruling if it is unfavorable. These bonds guarantee that, if the appellate loses the appeal, they will keep their promise and fulfill the original judgment’s obligations. Otherwise, the collateral required to be posted to have this bond, in addition to the bond amount, can be seized by the party whose favorable judgment is being appealed.
To secure 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 concluded by the state the individual is appealing in, as well as the original judgment amount. Acquiring an appeal or supersedeas bond also involves posting the initial court’s judgment. The bond is in place until final judgment of the case in the appellate court.
Colonial Surety Company offers appeal and supersedeas bonds online accessible from your desktop, tablet, or mobile device! Our online surety bonds, or I-bonds®, are available for instant quote, purchase, print or e-file. We offer our lowest possible rate and the premium is based on the amount of the bond required by the applicable court. Click here to obtain your bond today!