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Georgia appeal bonds fall into the category of court bonds�bonds that can be ordered by a Georgia court for very specific purposes. The most common appeal bond is a supersedeas bond, which can be required by the trial court when filing an appeal in the appellate court for a civil case. The trial court has the option of requiring this type of appeal bond when the appellant is requesting that the execution of the court�s judgment be stayed pending a decision on the appeal.
A supersedeas bond is the appellant�s guarantee to pay the trial court�s judgment if the appeal is unsuccessful. Other appeal bonds serve similar purposes regarding the preservation or return of contested property pending the resolution of an appeal.
One very important purpose served by Georgia appeal bonds is deterrence of frivolous appeals intended only to delay execution of a judgment. The success rate for appeals is very low, because they require a finding of procedural error by the trial court. The discovery of new evidence and attempts to discredit witness testimony is insufficient grounds for an appeal. Having to purchase an appeal bond and the prospect of likely failure make people think twice before filing an appeal.
There is a good chance that someone filing an appeal of a judgment in a Georgia appellate court will be ordered by the trial court that originally heard the case to purchase a Georgia appeal bond. If the appellant is requesting a stay of a judgment, that will be a supersedeas bond.
The trial court will establish the required amount of a Georgia appeal bond (the bond�s �penal sum�). The factors entering into that calculation include the size of the judgment, whether the judgment is for cash, real property, or both, applicable court costs, interest that accrues until the judgment is overturned or executed, and other considerations. In most cases, the penal sum will be more than 100% of the judgment amount, and the bond must be fully collateralized.
The surety bond agreement for a Georgia appeal bond brings three parties together in a legally binding contract:
After an unsuccessful appeal, the principal has a certain amount of time in which to make good on the judgment and pay any costs related to the appeal, or the court will seize the collateral to satisfy the judgment and cover court costs and fees. If the appeal is successful, the judgment will be vacated and the collateral will be returned to the principal, minus court costs.
Because of the slim chances of a successful appeal, the surety will normally require a Georgia appeal bond to be fully collateralized. Consequently, the principal�s personal creditworthiness is not a major consideration in determining the premium cost. There is no hard and fast rule for assigning a premium rate to any given principal.
Request a convenient online quote today, or call to speak with one of our experienced professionals about the court-ordered Georgia appeal bond you need.
