Appeal Bond

An appeal bond is a type of financial guarantee required by a court when a party wants to challenge a legal decision. It ensures that if the appeal fails, the party can pay any damages or costs awarded to the other side. Essentially, it protects the winning party from being unable to collect if the appealing party loses. The bond amount is usually set by the court and must be paid upfront. Obtaining an appeal bond often involves a bonding company and may require collateral or proof of financial ability to ensure compliance.