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Here’s what you need to know about bail bonds

We often stumble across the word “bail” in news or our favorite courtroom dramas. But what does this word actually mean?

In simple terms, bail is an amount that a defendant has to deposit to be released from jail. This money is imposed to ensure that the defendant will return to the court for further proceedings. The bail amount differs across cases and is decided by the judge. The money is returned to the defendant after the case is over.

There are two types of bails, namely, cash and bonds. As the name suggests, cash bails are where one needs to pay the bail amount in cash.

Here’s what you need to know about bail bonds

At times, these can be comparatively heavy on the wallet than bonds, as they have to be paid entirely in cash. On the other hand, bail bonds or surety bonds are contractual agreements where the bail amount is funded through a third-party or bondsmen as the bail amount charged is expensive, generally, for severe crimes.

How to do bail bonds work?
Like mentioned before, when the bail involves a big figure, defendants can approach a third-party or a bondsman to help them. Such businesses will charge 10% of the bail amount as a fee while they cover the remaining balance amount.

The bail bondsmen draft an agreement to make sure that the defendant turns up in the court. In this contract, the bail bondsmen require the defendant to use a collateral in exchange of bail.

Every bail bond agency is different, therefore, what would deem as a collateral will vary accordingly. Typically, an asset of significant value is accepted as a surety. The following are some examples of what can be used as a collateral:

Bank accounts
Credit cards
Jewelry
Real estate
Stocks
Vehicles

Both, the court and the bail bond agency, establish some conditions for the defendant’s release. The first being that the defendant has to appear in the court for future trials and hearings. Likewise, the defendant isn’t permitted to break any laws before the final verdict. If any of these terms are violated then an arrest warrant will be issued.

The bail bond agency, on the other hand, will ask the defendant to surrender their collateral temporarily. If the defendant doesn’t show up for court proceedings, the agency will have all the rights to track them down. Moreover, if the defendant is nowhere to be found in the next six months, then they will be liable to pay the entire bail amount.

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Here’s what you need to know about bail bonds

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