What does Appeal Bond mean? Read on to discover the definition & meaning of the term Appeal Bond - to help you better understand the language used in insurance policies.
Appeal bond is money given to a court by the party that contests the decision of a lower court--a decision against the party's favor. It is a requirement set by the appellate court before analyzing and deciding on a case. The amount is usually large to test the seriousness of the appealing party and to dissuade an appeal that has no legitimate basis.
We hope the you have a better understanding of the meaning of Appeal Bond.