Trial resulted in a sizable judgment against your client. You know to stay judgment enforcement you have to post a bond, but what, exactly, does that mean? And how do you do it?
Enter Dan Huckabay from Court Surety Bond Agency. We sit down with Dan and ask him how we attorneys can be a hero for our clients by knowing a few key things about appellate bonds, such as:
- Plan ahead: Before judgment is entered, give the client time to set aside collateral for the bond.
- Manage expectations: Judgment interest in California is a hefty 10%, and the bond premium ranges from a quarter percent to 4%, with most premiums being about 1%.
- Consider a letter of credit: If the client has a strong relationship, the bank may issue a letter of credit—which avoids the need to tie up collateral.
- Was the judgment amended to add fees and costs? Instead of getting a new bond, consider a rider or a separate bond.
- Don’t wait! There’s no deadline to post a bond, but waiting can lead to assets getting seized or liened on.
Dan Huckabay’s biography, LinkedIn profile, and Twitter feed.
Appellate Specialist Jeff Lewis' biography, LinkedIn profile, and Twitter feed.
Appellate Specialist Tim Kowal's biography, LinkedIn profile, Twitter feed, and YouTube page.
Sign up for Not To Be Published, Tim Kowal’s weekly legal update, or view his blog of recent cases.
The California Appellate Law Podcast thanks Casetext for sponsoring the podcast. Listeners receive a discount on Casetext Basic Research at casetext.com/CALP. The co-hosts, Jeff and Tim, were also invited to try Casetext’s newest technology, CoCounsel, the world’s first AI legal assistant. You can discover CoCounsel for yourself with a demo and free trial at casetext.com/CoCounsel.
Other items discussed in the episode: