In a lot of court cases, defendants are not satisfied with the decision handed down and decide to file an appeal. When this happens, the defendant will likely have to come up with an appeals bond, which is usually handled by a bail bond agency. There is a bail bond agency that offers appeal bonds in Rotterdam, NY to those defendants who are appealing their cases. Here are some things defendants need to know about appeal bonds in the state of New York.
Understanding Appeal Bonds in New York
The appeal bond is a special bond that is put in place to assure a payment to the court while defendants go through the appellate process, and the amount is usually the same as the amount of the judgment. The defendant or whoever is filing an appeal must pay a percentage of the surety bond to go forward with this appeal, and this amount will be one percent or two percent of the amount of the surety. Certain types of collateral will also be required for the appellate process.
More About Appeal Bonds in New York
The collateral that is usually accepted could be a letter of credit or cash, with the letter of credit being a specific one issued by the bank that is called an irrevocable letter of credit (ILOC). However, a lot of banks won’t issue an ILOC without the customer having the actual dollar amount in the account to cover the letter of credit. If a defendant or even a plaintiff decides on appealing a judge’s decision, talking to a bail bond agent may be one way to get started on an appeals bond.
A Bail Bond Agency for Appeal Bonds in New York
There are many bail bond agencies in New York that help clients get an appeal bond. Business Name is a bail bond agency that help clients who are going through the appellate process. If a defendant or plaintiff wants to file an appeal bonds in Rotterdam, NY, this agency is available. Browse our website for more information.
