What is a Appeal Bond?
When a plaintiff wins a court case, judgment is passed on the defendant and it is often the defendant’s
responsibility to pay monetary dues to the plaintiff. The defendant has the option to appeal the judgment, but he or she must receive an appeal bond before proceeding. This ensures that the appellant will be able to provide the judgment even if he or she goes bankrupt during the appeal process.
Judgment is sometimes greater than the defendant’s current total assets. These bonds are almost always required without exception, but they enable the defendant to seek lesser judgment.
Before defendants purchase a bond from an agency, they must submit themselves to a credit check, have their application approved, and go through other screening processes.