An appeal bond is one of the most common types of surety bonds used by a defendant. In order to stay a judgment and begin the appeal process, the Illinois Appeal Bond require courts, otherwise the judgment must be paid despite the attempt of appeal. For the court to hear arguments for an appeal the following must happen.
Applying for an Illinois appeal bond is best handled before a judgment is made. Once the Illinois Court issues a ruling, the money judgment immediately goes into effect. Without having a surety bond in place the defendant is responsible for paying the money judgment and/or settling the non-money judgment in a timely manner. Per Illinois Statute 305(a) an appeal bond stays the judgment automatically.
“Rule 305(a) states that a stay of enforcement of a money judgment, or any portion of a judgment which is for money, shall be automatic if the party seeking to appeal files a notice of appeal and an appeal bond or other form of security within the time for filing the notice of appeal or within any extension of time granted under Rule 305(c).”
Stays for non-money judgments are not automatic in Illinois. Instead, it is up to the court’s discretion. Even though the action isn’t instant it is still a priority to set up an appeal bond before a judgment so the action can take place as quickly as possible.
Avoid Faulty Appeal Attempts
One of the stipulations with a court accepting an Illinois appeal bond is to make sure it’s not a way to avoid settling the judgment. While the defendant has a right to an appeal, the court has the right (and responsibility) uphold the ruling for the plaintiff. This surety bond assures the court that the defendant will fulfill their responsibility to the court and to the plaintiff.
Know Local Regulations
Every state has differences in their appeal bond requirements and the same can be said of differing districts. Clients should not assume that Chicago, Springfield, Waukegan and Aurora, IL have identical mandates. One city may require interest and court cost to be paid up front, others may not include interest at all.
It’s important that whichever surety bond company you choose knows the local Illinois regulations. Jurisco staff is knowledgeable about local and state statutes, but not every nationwide company can say the same.
For more information about Illinois appeal bonds, email us today.