Georgia Appeal (Supersedeas) Bond
AmeriPro Surety Bonds | 844-589-9732
Definition of Supersedeas Appeal for Georgia
In a Georgia civil litigation proceeding, an appeal allows the “stay” of an adverse monetary judgment. An appeal may initiated by a Defendant or a Plaintiff. The appeal allows the case to proceed to the 11th Circuit Court of Appeals for a review, and, if successful, a complete reversal; or, if partly so, a lessening of the lower court’s adverse monetary judgment.
Georgia statute allows the stay of an adverse monetary judgment upon filing a supersedeas request, alone, and without a supersedeas bond, unless the appelle (i.e. the party who won in the lower court) files a motion that the appellant (you, or for legal counsel, your client) obtains an appeal surety bond as a condition of making a formal appeal.
This rule and exception are according to Georgia Code paragraph 5-6-46 .
Amount of Your Georgia Appeal Bond
As noted in our sidebar, our agency has an appetite for Georgia appeal bonds which are $1,000,000 and higher.
When the Georgia court requires a surety bond as a condition of entertaining an appeal, the following considerations statutorily factor into the amount of appeal bond required:
- The entire amount of the judgement which remains unsatisfied;
- Damages caused as a result of the delay;
- However, the court, at its discretion, may lower this amount.
The court will inform you by means of a court order of the amount of the appeal bond required.
Our agency will need a copy of that court order in order to begin the process of executing your supersedeas surety bond.
Qualifying For Your Appeal Surety Bond: Prepare to Provide Collateral
Even very well capitalized and financially sound appellants should assume that as a condition of having their appeal bond issued by our agency, it will need to be fully collateralized.
Full, 100% collateralizing of your appeal bond will typically take form by means of Irrevocable Letter of Credit (ILOC) by an approved banking institution.
Our agency will need to know the name and address of that banking institution offering the Irrevocable Letter of Credit. The underwriters will review this information to determine if that banking institution is approved.
Unfortunately, ahead of time, we cannot inform you of which banking institutions are acceptable and which are not.
In some cases, as determined solely by our underwriters, an appeal bond may be approved with a signature only.
We emphasize, however, that all clients should prepare for a request of an ILOC as a condition of issuing the supersedeas bond.
Items Needed for Underwriting
Nevertheless, issuing your appeal surety bond will involve all of the following:
- Providing our agency with a copy of the court order which states the appeal (supersedeas) bond requirement and the amount of surety required;
- A completed surety bond application. Typically, we’ll send the application to you by Docusign. This will allow you to sign, complete, and return your application to our underwriters electronically. Doing so allows for a seamless, quicker experience in working towards approval of your appeal bond request;
- Providing our agency with professionally prepared financial statements. Even though your bond may be conditionally approved upon providing an ILOC, our underwriters will still need to first determine that you or your company is financially sound and viable. In other words, the underwriters will want to determine the overall financial health of you or your company, despite the appeal bond request.
Premium and Issuance; Annual Premium Renewals
Once approved, and all conditions are met (i.e. providing the ILOC, if required financial statements), we’ll take payment of the premium.
Your premium is not a one time payment. The premium payment will be renew each year on the anniversary of your bond’s issuance. This will be for as long as the Circuit Appeal court requires surety.
In this regard, please prepare to pay your premium at least 3 times: When your supersedeas bond is first issued, and 1 and 2 years thereafter.
It is also possible that your case will go on for a longer period or shorter period.
AmeriPro Surety Bonds is a surety bonds only agency which specializes in court required surety bonds. Besides appeal bonds, we offer attachment, replevin, injunction, and other court surety bonds as required.
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