A stay of execution is a court order that temporarily suspends the execution of a court judgement. The word “execution” does not necessarily mean the death penalty. It could just mean a court order.
A stay of execution can be granted automatically by the law or conventionally by choice.
Stays are useful in cases where a defendant wishes to seek further leagal actions, such as an appeal. Using a stay of execution, a defendant is able to put off paying the judgement until the appeal is over.
To ensure the defendant will follow through with paying the judgement, the court might require the defendant to secure a Stay of Execution Bond before the stay is issued.
What is a Stay of Excecution Bond?
A Stay of Execution Bond is a type of surety bond that a court might require before a stay of execution is granted.
Stay of Execution Bonds are more commonly known as Appeal (Supersedeas) Bonds.
The purpose of a Stay of Execution Bond is to ensure final judgements and costs are paid. The bond protects the court from losses from time and money due to appeals.
How Does a Stay of Execution Bond Work?
A defendant wishes to appeal a judgement to a higher court. The court requires the defendant to secure a Stay of Execution Bond.
To get the Stay of Execution bond, the defendant would need to apply for the bond with a surety bond company. A thorough investigation is done to determine the risk of bonding the defendant.
If the surety company decides to write the Stay of Execution Bond, they are guaranteeing that the defendant will pay the judgment at the end of the time-period for the stay.
If the defendant fails to pay the judgement, the court can make a claim against the bond.
How Much Does a Stay of Execution Bond Cost?
The Stay of Execution Bonds amount will vary by state and possibly the amount of money owed. Normally, the bond amount will, at minimum, the full amount of the judgement.
The amount you pay for the bond (called the bond premium) is calculated based on a percentage of the total bond amount.
The best way to see what you’d pay for a bond is to get a free quote.
Get a free Stay of Execution Bond quote
If you need a Stay of Execution Bond, or you would like more information, give Surety Solutions a call at: 866.722.9239 or email our office at [email protected].
We write court bonds in all 50 states. We are happy to talk with you about your options.
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