Court bonds are those bonds prescribed by statute and relate to the courts. They are further broken down into judicial bonds and fiduciary bonds. Judicial bonds arise out of litigation and are posted by parties seeking court remedies or defending against legal actions seeking court remedies. Fiduciary, or probate, bonds are filed in probate courts and courts that exercise equitable jurisdiction; they guarantee that applicants whom such courts have entrusted with the care of others property will perform their specified duties faithfully.
Judicial Bonds: Appeal Bonds
Appeal Bonds – typically required in a court of law when a defendant wants to appeal a ruling to a higher court while delaying the payment of a judgement. They are to hold the defendant liable for court costs should their appeal be unsuccessful. If the higher court upholds the lower court’s decision, the Appeal Bond guarantees the defendant will pay the judgment, interest, court costs and attorney fees.
You will not have to pay the entire bond amount to get bonded. Typically collateral will be required to secure the obligation.
