Surety bonds involve three parties. It is a pledged agreement concerning a principal, obligee, and surety. A type of surety bond is an appeal bond, and in some court cases, it is a necessity. In this regard, the principal is the appellant, the courts are the obligee, and the surety is the party providing the bond and supporting the principal.
The purpose of an appeal bond, or supersedeas bond as it is also referred to, is to counter a court’s decision. However, the bond is a financial assurance. It indicates that the appellant will adhere to the initial requirements of the courts and not avoid their financial obligations if the appeal is ineffective.
The premise of a supersedeas bond is to behave as a guarantor to all parties involved. It pledges the integrity of the appellants to uphold their financial obligations. Overall it ensures that they remain acquiescent to the rulings outlined by the courts.
How to Apply For An Appeal Bond & What Is the Cost?
To clarify, there is only one type of appeal bond, so there is no need to be concerned with finding one that is ideal for you. However, to apply for one, there is a cost. The amount is not contingent on the credit history of the appellant but rather on the individual and the case.
For this matter, the exact cost cannot be specified. Appeal bonds are considered to be very risky, as the court’s decisions cannot be guaranteed. Therefore, most appellants are required to pay a minimum of 100% collateral to receive a bond.
Surety Bond Professionals
If you are seeking an appeal bond, but are uncertain of how to apply, contact Surety Bond Professionals. We have helped many individuals living in Connecticut, New Hampshire, Massachusetts and other areas of the United States with appeal bonds.
Our team of licensed professionals, work on appeal bonds continually, and understand what is required in obtaining one successfully. We will work with you diligently to ensure that your needs are met and that an appeal bond is provided to you.
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Our surety bond professionals will help you with your bond need easily and quickly. Apply now!