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The cost of an appeal surety bond varies from case to case. Typically, the amount the appellant will be responsible for is 1-2% of the surety bond amount that is needed. For example, if the appeal bond is in the amount of $1,000,000 then it would cost between $10,000 and $20,000 annually. Unlike other surety bonds, the applicant’s credit score doesn’t affect the cost of the bond because collateral for 100% of the bond amount must be posted in order to qualify for an appeal, which is the initial judgement amount. Requiring full collateral from an appellant is in place to discourage anyone from abusing the appeals court system. Since the price is high for making an appeal, it will persuade them against it unless it is necessary. To find out how much an appeal/supersedeas surety bond will cost you, fill out our free quote form.
An appeal bond is required of a losing defendant by the lower court when they are requesting that their case is reviewed by a higher authority. Both federal and state courts require the posting of an appeal bond. The court requires this bond from an appellant, so that the court-ordered sum is delayed until the appeal has been decided. Every state requires an appeal bond for the appeal of a money judgment except New Jersey and Delaware. By posting an appeal bond, the defendant is guaranteeing that the amount of the original judgment will be paid if they lose the appeal.
Some surety bonds have an obligation to be renewed every year or every other year as part of the licensing requirement. Unlike those bonds that must be renewed, an appeal bond is a per appeal basis. This means that the appeal bond does not renew and is not required to be renewed in order for it to stay active. The bond will remain in place until it is discharged by the court after the court has rendered a decision or the appellant settles the case in the meantime. However, if the appeal is lost, years can pass before the bond is released and the losing party is no longer responsible for the judgment sum. The number of appeals that can be brought to court for one case vary depending on that particular case. As a general rule, the final judgment of a lower court can be appealed to the next higher court only once. The number of appeals thus depends on how many courts are superior to the court that made the decision. For each appeal that is made, a new appeal bond is required.
Getting an appeal bond is easy if you’re working with the right surety bond company. The ProSure Group makes the process quick and easy! We are surety bond experts with over 24 years of experience. The ProSure Group has handled hundreds of these types of bonds and we ensure that you will get the best, most competitive pricing available in the marketplace. All you have to do is follow the steps on our simple Court Bond Application page and we will guide you through the rest. Just complete the application and one of our specialists will contact you quickly.