An Appeal Bond ensures that if an appeal is unsuccessful, the payment of the original judgment of the court will be paid. The party that is appealing the original court\'s ruling is required to purchase the appeal bond.
The Appeal Bond is required to discourage people from appealing to stall for time and other reasons that waste the court\'s time, money and resources.
Both the prior defendant or plaintiff of a case can file an appeal but they must first supply an appeal bond. If the bond were not in place more people might abuse the appeals process. For example, a defendant might file for an appeal to slow down the courts processes if they cannot pay the court ordered judgement. With the requirement to purchase an appeal bond the thought of saving money is now null and void since the appeal bond costs the amount of the previous judgment plus interest and court costs.
The Appeal Bond also protects the interest of the party the court ruled in favor of. If the losing party, an individual or business, goes bankrupt during the appeals process the appeal bond ensures that they will still be compensated.
The price of appeal bond depends on the original ruling of the court. The amount of the first ruling plus interests and court costs is the amount you have to pay to purchase an appeal bond.
