Nevada Supersedeas (Appeal) Bonds
Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all your Nevada supersedeas bond needs.
What Are They?
A Nevada supersedeas bond is a type of appeal bond, which is one of the two broad categories of court surety bonds. If you’re planning to appeal a civil court judgment and stay the execution of the judgment until there is a ruling on the appeal, you’ll most likely need to purchase a supersedeas bond. There are relatively few circumstances under which a Nevada court might waive the bonding requirement.
In addition to delaying, or staying, the execution of the judgment against you pending an appellate court ruling, a Nevada supersedeas bond is your guarantee to pay the judgment plus applicable costs that apply when an appeal is unsuccessful. Since supersedeas bonds are almost always fully collateralized, they discourage people from clogging up the court calendar with frivolous appeals intended only to delay execution of a judgment.
Who Needs Them?
If you want to appeal a previous judgment against you by a Nevada court, you must post a Nevada supersedeas bond within 30-days of the original judgment date, or the judgment can move forward even though there has not yet been a decision by the appellate court. Be aware that an appeal will only be heard if it challenges the procedural integrity of the original trial—finding new evidence does not give you grounds for an appeal.
The appellate court will establish the required amount of your Nevada supersedeas bond based on the size of the judgment. It will cover the judgment amount, court costs, and perhaps the other party’s legal fees. For monetary judgments, the required bond amount will also include interest that accrues on the judgment amount while the stay is in force.
Speak with a Surety Bond Professionals agent today to discuss your bonding needs.
How Do They Work?
A Nevada supersedeas bond agreement is a legally binding contract involving these three parties:
- The “obligee” is the appellate court requiring the bond.
- The “principal” is the appellant who must purchase the bond.
- The “surety” is the bonding company that underwrites and approves the bond.
Very few appeals succeed, so surety bond agencies view appeal bonds as riskier than most other surety bonds. Therefore, they require full collateralization.
If the appellate court rules against you and lifts the stay, the judgment becomes payable. Typically, the surety will use some of your collateral to pay whatever court costs and legal fees you have been found responsible for. If you don’t pay the judgment yourself, you will forfeit the collateral you put up when you purchased your Nevada supersedeas bond and the court will use it to pay the judgment.
What Do They Cost?
There is little risk to the surety when a bond is fully collateralized, as is the case with Nevada supersedeas bonds. Consequently, your personal creditworthiness doesn’t matter when determining what your premium rate will be for your bond. You can expect it to be in the vicinity of 1% to 1.5% of the required bond amount, which the surety considers sufficient to cover court costs and other fees included in the original judgment amount.
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Our surety bond professionals will get you the Nevada supersedeas bond you need at a competitive rate.