When a court case is given a money judgment, the defendant has the right to appeal to higher court. Appeal bonds also known as Supersedeas Bonds are needed to be secured before the defendant or appellant can appeal in the higher court. The California Appeal Bond is required in the superior courts of California to guarantee that if the appellant loses the appeal, they will satisfy the judgment.
Need for Appeal Bond and its cost
The Appeal bond is actually a surety bond that is posted by the defendant to stop the instant enforcement of the verdict. The long duration of the appeal and high costs involved can make the appellant go bankrupt after the appeal has been made. The court ensures that the appellant will complete the obligation made after the appeal is over irrespective of the outcome. With California Appeal Bond, the court ensures that the obligations are fulfilled. The bond covers the following:
- The full amount of the judgment
- The expenses incurred due to the stay on the execution of the judgment.
The bond amount is actually equal or more than the cost needed to fulfill the complete amount of judgment along with the costs, charges and interests acquired during the appeal. The court has the full discretion to determine the bond amount of the appellant. In California the amount of the appeal bond is actually one and half times the amount specified in the judgment. The bond premium is a percentage of the bond amount which is normally about 1% to 2% of the bond amount. The bond of the defendant requires full collateral in the amount of the bond.
You can get the surety appeal bond from surety companies. These companies with fast and reliable services can immediately process the application. The agents there will explain the whole process and after the collateral is posted and bond premium is paid, the appeal bond will be issued.
