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What is a Supersedeas Bond?
A supersedeas bond, also known as an appeal bond, is a type of surety bond which is required when appealing a judgment to a higher court. It guarantees that the appealing party (the appellant) will cover all costs of the initial judgment if the appeal is not successful.
Like all surety bonds, appellant bonds involve three parties: the obligee (the party requesting the bond, whether person or business), the principal (the plaintiff appealing the judgment) and the surety bond company underwriting the bond and serving as a fiduciary.
Appeal bonds require that the plaintiff post at least 100% collateral of the amount of the initial judgment. Sometimes this percentage is even higher, as it may include interest and court costs associated with the appeal.
The full amount is required for collateral, so that plaintiffs will think twice before filing an appeal. This way, plaintiffs who abuse the appeals process simply to buy time, or delay payment, will be discouraged from appealing.
If the plaintiff’s appeal fails, or they file bankruptcy during the appeal process, the obligee is compensated by the collateral posted upfront by the principal.
Supersedeas Bond Cost
Appeal bond cost is hard to estimate, because it depends on the judgment that is being appealed. Unlike with most surety bonds, personal credit score is of no importance when obtaining an appeal bond because of the collateralization of the full bond amount.
In addition to posting 100% collateral, applicants also need to pay a premium on their appeal bond. The premium is calculated individually for every bond. Because of the nature of the bond, there are no special markets for appeal bonds. If you need an appeal bond, Bryant Surety Bonds underwrites appeal bonds in all 50 states.
For further information on what factors determine surety bond cost, have a look at our surety bond cost page which features extensive information on the topic.
Get Your Appeal Bond Fast
To get your appeal bond, all you need to follow the steps on our court bond application page. You will then be contacted by one of our surety bond experts who will guide you through the application process and the details on posting your collateral.
If you would like to know more about appeal bonds or if you have questions concerning your specific case, call us at (866)-450-3412. We will be happy to help you.