What is Bail Bond?
A bail bond is a financial arrangement made by a bail bonding agency on behalf of the criminal defendant.
After the petition of bail bonding agency, the court agrees to release the suspect on the condition that he would show up at all court dates.
The suspect gets bail in exchange for money, assets or a bond and the monetary value of the bail is set by the court. The bond ensures the full payment of the bail amount. The court either accepts the full bond or a 10% cash down payment for the release of a convict.
The bail bonding agency safeguards that the accused arrives in court on the day of trial. Incidentally, if the suspect fails to come, the agency hires a bounty hunter for tracking the individual.
Types of Bonds
Unsecured Bond is a bond which doesn’t require upfront money. The accused signs a contract and agrees to show up at all court dates. He also confirms that a particular bail bond amount would be paid by him if he fails to appear in court.
Unlike Unsecured Bond, Cash Bond is issued when the bail is paid to the court in cash. The amount is returned after the defendant appears in court. Any person can issue Cash Bond on behalf of the defendant with the help of a professional bail bondsman.
Also known as secured bond, a property bond involves a pledge of real property. The defendant or anybody on behalf of defendant, willing to give his or her property as security can issue property bond with the help of agent. The court has the right to acquire the property if the defendant fails to appear in court. In most cases the value of the property (or the equity therein) must be at least double the amount of the bond.
The Surety Bond is issued by the bail bondsman on the behalf of defendant. A bail bondsman charges a non-refundable fee and gets collateral from the defendant to reduce the risk of loss. However, if the suspect fails to appear in the court, the bondsman is accountable to the court. Similarly, a person accused of a federal crime needs to post a federal bond.
Select the suitable bail bond very wisely. You should ask the bail bond agent to explain his charges through an itemized summary. Don’t forget to collect the receipts for each task and keep them carefully. State laws may be different from federal laws. Hence, do check your references carefully before selecting bail bonds San Bernardino.