What Are Appeal Bonds in Albany, NY?

When an unfavorable trial outcome occurs, the defendant has the right to appeal the decision. Many people are not aware an appeal payment must be made when an individual wants to appeal their case decision. This money is required because it helps to prevent frivolous appeals that waste the court’s time. Those who do not have enough cash to put up for their appeal bonds in Albany, NY can hire a bondsman to help.

What Can Be Expected?

Those who have never been through the appeal’s process may not be fully aware of what to expect. Hiring a bondsman for an appeal bonds in Albany, NY is much the same as hiring one for a traditional bail bond. The bondsman signs for the amount that is due. This money is held in an account until the appeal decision is finalized. The money is held to ensure the original judgments will be paid should the same decision come back from the appeal trial.

Because the chances of winning an appeal are low, the individual will need to provide 100% of the collateral, and the price of the bond fee is typically around 2%. The bond fee is not refunded even if the appeal works in favor of the defendant.

The individual who is requesting the appeal will need to file a bond that covers the full cost of the original judgment. They will also be required to have the court fees on file. It is imperative the individual is prepared by hiring a bonding agency to help them.

Why Are Appeal Laws So Important?

Appeal laws were put into place to protect the plaintiff who won their case. This prevents defendants from appealing the case and filing bankruptcy to avoid payment. If the appeal is a loss, the plaintiff’s court award is fully protected.

For more information on this type of bond, be sure to contact the office today. They are available to answer your questions and provide the necessary information. Allow them to help you pay your bond so it can be held appropriately in court. They will guide you every step of the way.

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