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Appeal Bond Information
Appeal bonds can often be referred to as a defendant’s appeal bond or supersedeas bond. They are bonds, which involve the handling of money during court appeals. Money is placed in holding by the courts whilst an appeal is being decided. Appeal bonds are occasionally required by the appeal courts should the applicant wish to delay payment of a judgment until the appeal has ended.
Appeal bonds work as a guarantee that funds for payment damages along with the estimated court costs are available to pay for the original judgment, should the appeal be lost. These bonds are also aimed in preventing an individual to appeal as a way of stalling for time.
Some federal and local governments require appeal bonds on occasion. This helps in the protection of the taxpayers well earned dollars used to fund the appeal case. Appeal bonds also ensure that in the event of a business or individual going bankrupt during an appeal process, the third party will still be compensated as is required.
Premiums for appeal bonds are often calculated on a case-by-case basis. These premiums often require full payment upfront. Any appeal bond becomes a financial binding contract. It joins three parties together. These parties involve the applicant; this is the person who purchases the bond. The obligee; this is the court who, requires the bond in order to prevent financial costs as well as bogus appeal cases, and surety, the underwriter who issues the bond. The underwriter also backs the appeal case.