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We've all heard on the news, "So-and-so has been released on $50,000 bail." However what does this actually mean? What is a bail? How does it differ from a Bail Bond?
When someone is arrested for a crime, they are kept in prison until their court date, until the judge decides to let them go on their own recognizance, or until they are released on bail.
* Please note that we (Surety Solutions) do not offer Bail Bonds. This post is meant to be an informational post. *.
what is Bail?
Bail is a set amount of cash that functions as insurance Click for source between the court and the person in prison (the accused.) Accuseds have the option to pay their bail in cash, however numerous can not do this.
Because bail is typically set at a high quantity, a lot of accuseds are economically not able to post bail on their own. They look for help from a bail representative, or Bail Bail bondsman, who posts a Bail Bond for them.
What is a Bail Bond?
A Bail Bond is a kind of surety bond offered by a surety bond company through a bail representative or Bondsman that secures the release of an accused from jail. There are 2 types of Bail Bonds:.
Crook Bail Bond: used in criminal cases and warranties that an accused stand for trial when called upon by the court and warranties payment for any fines or penalties that are chosen against the offender.
Civil Bail Bond: used in civil cases and ensure the payment of the financial obligation, plus interest and costs, examined against the offender.
How do Bail Bonds Work?
A judge sets a bail amount. If the accused can not pay the bail amount on their own, they can look for help from a Bondsman in the kind of a Bail Bond.
To post a Bail Bond, an offender is typically needed to pay a Bondsman 10% of the bail quantity.
The Bondsman will then secure the rest of the bail quantity in the kind of collateral. If the accused does not have adequate security, the Bail Bail bondsman might look for loved ones and good friends to help in covering the bail.
Many times, an additional cash payment plus complete security is required for a Bail Bond to be posted.
what occurs next depends upon if the offender appears in court after being launched.
If defendant fails to appear in court: The Bail Bond is surrendered and the court needs the staying 90% of the bail to be paid. The Bail Bail bondsman will use the defendant's collateral (house, fashion jewelry, stocks, etc) to pay the court the staying bail amount.
If a defendant does stand for court: Upon conclusion of the court case, the Bail Bond is dissolved and the security is returned to the person who posted it. The Bondsman keeps the 10% money charge as profit.Bail Bond Example.
For instance, John is detained. The court set John's bail at $10,000. John wishes to be launched from prison however he does not have $10,000 in money, so he looks for assistance from a Bail bail bondsman to publish a Bail Bond for him.
The bondsman needs $1,000 to post a Bail Bond for John, therefore releasing him from jail.
For the other $9,000 of bail, the bondsman protects collateral from John and/or John's household. Collateral might be in the form of a car, a house, fashion jewelry, etc
. As long as John appears at all required court dates, the Bondsman requires no more money and the Bail Bond is dissolved at the conclusion of John's case. John's would get his $9,000 in security returned, however he would not get the $1,000 back; the bail bondsman would keep this as profit.