Stay Bond In Nevada

stay bondOnce a money judgement has been made against a defendant there are three possible moves to make: 1) accept the ruling and pay the judgement, 2) appeal the ruling and pay the judgement, or 3) appeal the ruling and stay the judgement using a Stay Bond until the appeal process is finished.

Staying the judgement means that the amount owed does not have to be paid until the appeal process is exhausted. It gives the defendant a chance to appeal the decision without having to pay money that he or she feels is unwarranted.

Why Does Nevada Allow The Defendant To Appeal?

Now any court in the state of Nevada will let a defendant appeal a money judgement. Court decisions can be overturned by higher courts once new evidence or witnesses come to light. However, the defendant must prove that the appeal is simply not a stall tactic and that they have every intention of following through with the court’s recommendations. To show the Nevada court good faith a defendant must take out a surety bond.

What Is A Stay (Pending Appeal) Bond?

A stay bond is a type of surety bond that is used when a money judgment has been ruled in favor of the plaintiff. In order for the defendant to stay the judgment while they make an appeal they must have a stay (pending appeal) bond. This surety bond guarantees that the judgement will be respected and paid in full should the appeal not work.

What Is The Cost Of A Stay Bond?

The overall cost for a stay bond will depend on the amount of the original judgement, any court fees, and any applicable interest and damage between the time of judgment and the appeal. While the court wants to respect the plaintiff’s judgment, they do not want to take away the chance for a defendant to appeal because of having to pay the judgement up front.

Having the pending appeal bond (another name for a stay bond) in place will make the appealing process easier. This frees up funds to concentrate on taking the appeal to the next level. If a defendant had to pay the judgement and then new court cost it might decrease the chance of the appeal which is why the Nevada court has this stay bond option.

The team at Jurisco can help you and your client understand which stay bond options are open and best for you. The faster a stay bond is placed with the courts the sooner the judgement is stayed and the defendant can move on.

Trust the Surety Bond Experts

The Jurisco lawyer-trained staff are here to help you today.