An appeal bond is a surety bond that suspends the execution of a money judgment during the appeal process. Seizure of property can also be stayed using this type of surety bond.
What is a supersedeas bond?
A supersedeas bond is the same as an appeal bond. The only difference between the two is the name. For example, it is known as a supersedeas bond in Texas and an appeal bond in Illinois.
Are appeal bonds required for every appeal involving money judgments?
Supersedeas bonds are not always required, but they are the best way to save money during an appeal. New Jersey and Delaware are the only two states that do not require an appeal bond or supersedeas bond during a money judgment appeal. All other states require a surety bond or full payment of the awarded amount while the appeal process runs its course.
How much does an appeal bond cost?
Appeal bond cost depends on the total value of the money judgment, state ordinances, and court fees. The credit score of the applicant may also impact the cost. State ordinances vary, as do court fees.
At a minimum, an appeal bond costs $250. The premium amount is 1% with collateral or 2% without collateral.