California Appeal Bond | AmeriPro Surety Bonds | 844-589-9732
Court Bond (Appeal Bond)
Quick Definition of a California Appeal Bond
A defendant court appeal bond is a type of court bond that is required to be posted when the defendant has lost a case involving a money judgment and wishes to appeal the decision.
The appeal bond guarantees that if the defendant loses in the appeals court, the plaintiff will be paid the original judgment amount, plus any interest charges that have accrued since that time.
We hasten to add that this appeal bond refers to cases in a civil court. We are not here writing of criminal court cases which are on appeal; that is an entirely separate and unrelated matter.
A California Appeal Bond May Be secured in one of two ways:
Generally, the California appeal bond is secured (or collateralized) in one of two ways.
- One is by placing the full cash amount of the judgment with the surety company (by cashier’s check), along with paying the annual premium, and any additional dollar amounts required. The court order or your attorney will tell you what the exact amount of bond that needs to be posted.
- The second is by providing the surety company an Irrevocable Letter of Credit (ILOC) issued by your banking institution and paying the annual premium to the surety company. An ILOC is a formal letter, on bank letterhead, which states that the funds will be paid if the judgment is lost on appeal. In short, the letter serves as a guarantee.
In California, for example (and bear in mind, AmeriPro Surety Bonds provides appeal bonds in all 50 states), appeals bonds are for 150% of the amount of the judgment. A monetary judgment of $20,000 that is being appealed would require a $30,000 surety bond, along with the premium to be paid.
Other states will have different requirements. We at AmeriPro Surety Bonds will help you get the Appeal Bond that you need regardless of your state or U.S. jurisdiction.
Do we have other options for securing an appeal bond? No; the options offered by AmeriPro Surety Bonds are as indicated above.
The Premium: How Much and How Often
The premium for the appeal bond will typically be 1% of the bond amount required. The premium renews annually, for as long as the underlying case is being litigated at the appellate court.
There are 3 Parties to a California Appeal Bond
The principal is the defendant who is appealing the loss of a monetary judgment.
The obligee is the court, who, by law, mandate that a surety bond is posted for those who are appealing the loss of a monetary judgment so as to guarantee the payment of the original judgment should the defendant lose a second time on appeal.
The surety, then, is the insurance company which issues, and thereby, guarantees, payment of the surety bond purchased by the principal, as required by the obligee should the defendant lose on appeal.’
AmeriPro Surety Bonds and Your California Appeal Bond
AmeriPro Surety Bonds is a surety-bonds only agency which offers court-related surety bonds . We also provide license and permit, contractor, and fiduciary surety bonds in all California and all 50 states.