Bail Bonds are Serious Business
If you have ever been imprisoned and jailed before, or if you are in that situation in the future, anything that goes into bail bonds can be easy to forget. Although the procedure is seemingly as simple as posting a bond and then getting out of prison, before having one, it is necessary to consider anything involved, Read More Here.
Anyone in court and going to prison will try to take any way out they can find, and that sometimes includes bail bonds. There is more to a bond, though, than just just a get-out-of-jail-free pass.
For any criminal suspect, bail bonds are legally available and are sold internationally, usually 24 hours a day and seven days a week. The process can be quick, clear, and may seem simple, and it can be easy in certain instances, but that doesn’t mean you shouldn’t make sure you understand what you’re signing up for.
The three forms of bail bonds include the placement as collateral of assets, personal property, or security. In the sense that it actually means placing the amount in question in cash in return for granting the entire amount to the court, a cash bond is quite simple. Similarly, a property bond operates in that it uses the value of a given piece of property as collateral for the value of the bond to be issued. It should, however, be remembered that if the defendant fails to satisfy the requirements laid down by the judge, this means having to sign over the property in question to the issuer.
A surety bond is where stuff can get complicated. This is where the bail is set at a sum not prepared to be charged by the person and he or she makes an agreement to pay a certain percentage of the total in return for the maximum amount guaranteed by the issuer. The percentage is typically near 10 percent of the sum and is non-refundable, which means that it is a one-time charge that is returned to the customer and not a deposit.
This is where it can become troublesome if the defendant fails to appear in court. The bondman merely retains ownership of one or the other and does not lose something out of pocket when cash or property is placed as collateral.