A federal supersedeas bond is a post judgment resource available to appellants (defendant or plaintiff) that have sustained and adverse verdict. The practical effect of the supersedeas bond is to stay execution (collection) of the entered judgment so that the appellant may have its argument reheard. The right to stay is addressed in the Federal Rules of Civil Procedure, "Rule 62. Stay of Proceedings to Enforce a Judgment". Subdivision (d) states that if an appeal is taken, the appellant may obtain a stay by supersedeas bond, except in an action described in Rule 62(a)(1) or (2), which are appeals on receivership and patent cases. The bond may be given upon or after filing the notice of appeal or after obtaining the order allowing the appeal. The stay takes effect when the court approves the federal supersedeas bond. This rule modifies U.S.C., Title 28, which governs supersedeas bonds on direct appeals to the Supreme Court, and Rule 73(d), of these rules, which governs supersedeas bonds on appeals to a circuit court of appeals. The provisions governing supersedeas bonds in both kinds of appeals are substantially the same.
31 U.S. Code § 9305 governs that qualifications that a surety company must demonstrate in order to be acceptable to the courts for judicial obligations such as a federal supersedeas bond. A surety corporation must file with the Secretary of the Treasury a copy of its articles of incorporation and a statement of the assets and liabilities of the corporation signed and sworn to by the president and secretary of the corporation. Upon receipt of these the Secretary will approve the surety company and add it to the list of approved sureties, also known as the "T-List". Inclusion of the surety on the T-List is definitive evidence of its acceptability for all federal obligations.
Federal supersedeas bonds can be large and there is no statutory cap. US District Court suspersedeas bonds differ from those of most state court appeals in that a multiplier or "formula" for determining the bond penalty (bond amount) is not required. In order to obtain a federal supersedeas bond a surety company will require a complete surety bond application, a copy of the pertinent court documents and that the appellant identify his or her legal counsel. These three basic requirements are sufficient to receive a premium quote (bond cost). SuretyOne.com is THE most agile underwriter of judicial bonds in the U.S. Our same day underwriting, rapid bond delivery by federal e-file and multiple collateral options are unequaled! . Call (800) 373-2804, email Underwriting@SuretyOne.com or click here for a live chat for help with your federal supersedeas bond need.
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