An appeal bond or a “supersedeas” as it is sometimes called is a type of bond that a court can require from a person who wants to delay payment for a judgement until an appeal is heard on their case. An appeal bond is supplied by the person (appellant) who is appealing the court’s judgment and the amount of the appeal bond will usually be for the same amount of the original judgment if not more. An appeal bond can be referred to as a safety net where it helps to protect the courts from bogus appeals that could cost the courts additional time and money. An appeal bond will usually be posted by the losing party of a court case. The Federal Rule of Appellate Procedure 7 requires an appeal bond when the losing defendant wants to secure their right to an appeal.
Appeal Bonds Information
The amount of the appeal bond can vary from case to case and where the judgment was entered. In some states or courts, there are statutes for appeal bonds that set the amount of the bond as a percentage or equal to the amount of the original judgment. When an appeal bond is finalized, the appellant will need to file it with courts, where the judge will need to approve the bond in order for a stay of enforcement can take effect. There is one thing to keep in mind, once an appeal bond is in place, you will not be able to cancel it. The appeal bond will need to be discharged by the courts once a decision has been made on the appeal of your case or if you settle the case. If you lose the appeal, it can take years before your bond is released, depending on when the plaintiff receives the full amount of the judgement that has been awarded to them.
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