Supersedeas or Appeal Court Bonds
What is a Supersedeas or Appeal Court Bondh
A Supersedeas or Appeal Court Bond, also known as a Defendant’s Appeal Bond, is a type of surety bond that a court will require to delay a settlement and appeal it to the same or a higher court for a final decision. This is allowed in many cases in the U.S legal system.
How does a Supersedeas or Appeal Court Bond Work?
After a court case and decision, the losing side can make an “appeal” against the decision of the court or the judge. If an appeal decision is allowed, the appeal process could take a lot of time and even years to be revisited. Once the case is concluded, the side that wins may be out of a larger amount of monies due to the appeal.
Hence, many times it is a requirement by the court or state law that a surety bond be posted – or cash to supply good faith that the losing side will pay, should they also lose the appeal. The bond guarantees that the amount owed will be paid.
How much does a Supersedeas or Appeal Court Bond Cost?
The cost for a Supersedeas or Appeal Court Bond is typically based on the credit history of the person who will be filing the appeal. The typical requirement is inclusive of 100% collateral in the amount of the judgement and roughly a 1-3% fee of the judgment amount. Collateral is held by the Surety Carrier for the life of the bond and will be used in case the person becomes insolvent and unable to pay. The best measure for quoting will be based on the personal credit history of the person that is required to post the bond. Should an applicant be considered borderline, we may need to review personal financials or possibly a resume to secure a quote. At Universal Service Agency we specialize in placing clients in any circumstance that may present itself from “superior credit” to “less than perfect credit” and everything in between.
How do I get a Supersedeas or Appeal Court Bond?
You can get a Supersedeas or Appeal Court Bond by contacting surety bond agents/brokers. Since you’re already here, you can give us a call at 215-646-2400 or Apply Now here.
How to Choose a Bonding Company?
Universal Service Agency offers Surety Service Made Simple. We are the fastest surety only agency in the country, with over 100 years of combined surety experience servicing all 50 states. We exhaust all of our resources to get you the fastest turnaround times and lowest rates. We can help anyone, even clients that may not fit into the standard market. You can get a free quote here or call our bond experts at 215-646-2400.
How long does it take to get a Supersedeas or Appeal Court Bond?
Universal Service Agency can issue bonds the same day an application is received. The amount of time between application and issuance is affected by a number of factors though, including but not limited to, the size of the obligation, the type of bond, and promptness of the premium payment.
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Universal Service Agency is the fastest “surety only” agency in the country, with over 100 years of combined surety experience servicing all 50 states.