Perhaps one of the most common types of surety bonds in California is a supersedeas bond. When a defendant seeks an appeal they typically meet the supersedeas bond California mandate first. Securing a supersedeas bond makes the appeal process easier to navigate.
Facing a large judgment can overwhelm an individual or business.
This supersedeas bond California rule allows the payment of a judgment to be delayed until after the appeal is heard. Since the payment is halted, the defendant does not have to pay a large sum of money all at once.
Following are a few of the most commonly asked questions concerning supersedeas bond California uses.
What Is A California Supersedeas Bond?
A supersedeas bond is a type of surety bond used by defendants who are wishing to delay collection of judgment until after the appeal is heard.
How is a Supersedeas Bond Different From an Appeal Bond?
The short answer is they are not different. A supersedeas bond is an appeal bond. It is only used during appeals. This causes the two terms to be used interchangeably sometimes.
Appeals that concern money judgments use supersedeas bonds because it stops all payment requirements. This halting is why supersedeas is used instead of the word, appeal. But essentially supersedeas bonds and appeal bonds are one in the same. It’s just a word preference.
Are Appeal Bonds Unfair to the Plaintiff?
Courts work hard to protect plaintiffs against any wrongful delay of judgment payments. Appeal bonds, like all other surety bonds, must meet their specific requirements. If these requirements are met then the plaintiff is fully protected in the event of a supersedeas bond in California.
This supersedeas bond California action because it ensures the plaintiff will not unlawfully be denied the judgment. In California, this type of appeal bond must cover 150 percent of the judgment owed. This gives the plaintiff complete coverage.
Is it Common for California Courts To Accept Surety Bonds?
Supersedeas bonds are a normal process of the courts all throughout California including Los Angeles, San Franciso, San Diego, San Jose. Even with its frequent use, the presiding judge retains the ability to deny a bond. Working with a reputable surety bond company can help decrease this possibility.
Are Supersedeas Bond California Requirements the Same as the Other States?
Some supersedeas bond California requirements are unique to the state. For instance, Texas has a slew of subsections used to determine the amount of a supersedeas bond. California is a little more straightforward with an amount worth 150 percent of the judgment.
What Determines Low Surety Bond Rates?
Working with a proven surety bond company helps keep surety bond rates low. Being able to rely on a surety bond expert that understands all supersedeas bond California mandates and uses ensures low rates. Start the supersedeas bond online application now to receive a good surety bond rate.