Money judgments can be tough on the most resilient of beings and largest of businesses. When a defendant is required to pay out a large sum of money there may be the possibility of taking away the opportunity to appeal because of financial reasons. The courts in New York handle the issue through a stay bond (pending appeal bond).
Access To Appeal
A defendant in New York who is facing a hefty money judgement but still believes confidently in an appeal has one recourse to stop the collection of money and that is a stay (pending appeal) bond. This type of New York surety bond covers the money judgement, insuring its payment, while allowing the defendant to appeal the decision.
A stay bond shows the court that the defendant is not making the appeal in an effort to delay payment to the plaintiff. Since the surety bond covers the amount of the money judgement the court will accept a stay bond to put off having to pay until after the appeal process has worked its course.
Taking this course of action allows the defendant a chance of negating the judgement or even reducing the amount. This is why the New York courts want to make the appeal process open to all defendants. A stay bond helps defendants navigate this process without the extra burden of a money judgement.
The Jurisco office will answer any questions about a stay bond in New York or any other state. A team of highly trained professionals can help write a stay bond quickly meeting all state requirements to reduce the chance of court rejection. Let Jurisco deliver a stay bond that covers the money judgement and all court mandates so the appeal process can move forward.