When appealing a lower court’s unfavorable judgement, appeal and supersedeas bonds can seem like an onerous obstacle to hurdle. However, there are numerous reasons why these bonds exist and, in fact, are necessary.
Appeal bonds primarily guarantee payment of a judgment while protecting both the appellant and appellee. If an appeal succeeds, posting a bond in lieu of cash removes the need to recover funds paid out to judgment creditors. If it fails, however, the bond can make the judgment creditor whole and places them in the same position as if the initial judgment had been collected upon.
Another purpose of the bond is to prevent frivolous appeals that are only brought to delay execution of the initial judgment. The bond helps to guarantee coverage in case the delay carries on too long, as interest will accumulate and the party will be required to pay even if they find a way to make themselves judgment proof during the delay.
Purchase Appeal or Supersedeas Bonds Online
Colonial Surety allows you to quote and purchase your appeal and supersedeas bonds instantly. There’s no middleman or broker involved. Simply get started on our website and print your bond in minutes. Contact us to learn more about appeal or supesedeas bonds.