Using a stay bond in a Vancouver court case is common legal practice. A defendant who is wishing to stay a judgment must secure a Vancouver stay bond. This type of surety bond is a simple way to handle a court judgement during the appeal process.
A Vancouver stay bond is similar to an appeal bond in that it is concerned with the court judgement. The difference is requesting a stay of a judgement means the defendant wants to suspend the court order. If a judgement included a transfer of property, for example, a stay would halt that transfer. The stay isn’t tied up in the appeal but is seen as a separate piece.
When defendants ask to stay a judgement a Vancouver court does not take that question off the cuff. It is a long practice to require a defendant to post a Vancouver stay bond to protect the plaintiff against wrongful delay.
Stay bonds in Vancouver would be twice the value of the judgement. This number can be be huge but the cost to the bondholder is minimal. On the majority of bonds only one percent of the overall value is due as payment with the minimal cost being $100. Courts trust stay bonds because of its financial security and affordability for defendants.
A stay bond provides an opportunity for a defendant to be able to hold on to assets including real estate or monetary. There are situations where having to pay out a judgement left a defendant in bankruptcy unable to deliver a proper appeal. With an affordable stay bond the defendant can avoid this dangerous risk.
It’s an old rule that the best way to get something right is to follow the directions. The surety bond experts at Jurisco are well-versed in Vancouver surety bond requirements. Securing a stay bond in Vancouver is simple because Jurisco knows every detail for a judge and plaintiff to accept the terms of the bond.
The majority of clients in Vancouver, Washington receive same day surety bond service from Jurisco. Online surety bond applications are available to begin the process immediately. The faster the Vancouver stay bond is secured the sooner the defendant has the ability to stay a judgement.