Pennsylvania Appeal Bond (Supersedeas Bond)
AmeriPro Surety Bonds | 844-589-9732
Statutory Overview of an PA Supersedeas Surety Bond
A civil appeal case in Pennsylvania allows the Defendant or Plaintiff to have an adverse monetary judgement reviewed by the 3rd Circuit Court of Appeals. The endeavor is to seek a full or partial reversal of the lower court’s decision.
In order for an appeal to take place, an appeal (or supersedeas bond) may be required by the presiding court. This is according to current statutes governing the “stay” of adverse monetary judgments (Section 5701.309).
The purpose of your appeal bond is to serve as a financial guarantee that in case that you, as appellant Defendant or Plaintiff, have a second adverse judgment, this time on appeal, that the original or modified judgment will be honored and paid accordingly.
Your appeal therefore is for the benefit of the opposing party.
Factors that will determine the amount of your Pennsylvania supersedeas bond required include:
- The amount of the judgment;
- Interest and time costs;
- Others fees;
- Nevertheless, according to Pennsylvania law, no appeal surety bond will exceed $100,000,000, regardless of the amount of the judgment.
Two Things to Bear In Mind From the Onset
- Our agency has an appetite for qualified appeal bonds where the amount of the surety bond is at least $1,000,000.
- Even very well capitalized clients and businesses should, at the very least, upon approval, prepare to provide 100% collateral for the appeal surety bond. The most common method of providing collateral is via an Irrevocable Letter of Credit (ILOC) from an approved banking institution. While in some cases it is possible to be approved for your civil appeal bond without full collateral, it is better than not to assume that full collateral will be required.
The Approval Process
To begin, our agency will first need a copy of the court order from either you or legal counsel which states the amount of the appeal bond required.
Besides the court order, we’ll also need all of the following:
- A completed application which we’ll provide to you, ideally via Docusign. Docusign will allow you to complete, sign, and return your application to our agency electronically;
- A credit review;
- Professionally prepared financial statements. Approval of your appeal bond is not merely conditioned upon the ability to provide the collateral, if requested; our underwriters will also want to determine your or your company’s overall financial health and wellbeing, apart from the surety bond requirement.
- Providing ILOC from an acceptable institution. We’ll need to know the name and address of that bank required; and unfortunately, for reasons of discretion we cannot advise you beforehand whether your institution is approved.
- Upon approval and providing the ILOC, if required, payment of the first annual premium.
Issuing Your Appeal Bond; Timely Filing with the 3rd Circuit Court of Appeals
Once all of the conditions of your appeal bond are met, the payment of the premium is taken, and your bond is issued.
Your appeal bond will need to have two wet signatures: Ours as Surety; yours as Principal. Once in your possession, you can have legal counsel ensure its timely filing.
Annual Renewal of the Appeal Bond Premium
The premium associated with your appeal/supersedeas bond renews annually on the anniversary of your bond’s issuance for as long as the presiding court requires surety.
It is highly likely that you will pay your premium surety bond at least twice: Upon the initial issuance, and one year subsequent.
Should you choose to do so, options exist to prepay your premium up to 3 years (2, is recommended) which offers you a discount over year to year payment of the premium.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide court surety bonds in all 50 states. Besides appeal bonds, these include injunction, replevin, sequestration, and garnishment surety bonds, among others.
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