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The defendant and the bail bond agent enter into a financial agreement to ensure the defendant’s release from jail pending trial. However, many myths surround the concept of bail bonds. Some of the details of bail bonds may be unfamiliar to you, and that is 100% okay. Here are some facts you didn’t know about bail bonds.
How Bail Bonds Work
The Basics of Bail Bonds
Those who cannot afford the full bail sum set by the court often turn to bail bonds as an alternative. A bail amount is the sum of money that must be paid to a judge to obtain the release of an accused person from jail. The defendant can work with a bail bond agent, who, for a fee (10% of the bail amount is the standard minimum), will pay the money on their behalf if they cannot do so. Nowadays there are plenty of bail bond agents and companies that can help you get bail for your loved ones. For example, if you live in LA you can search for Los Angeles bail bonds in your area and find plenty of options to choose from.
Collateral
To secure a bail bond, the bail bond company often requests collateral. Real estate, jewels, and other high-value items are all acceptable forms of collateral. If the defendant is unable to make their court date, the collateral is liquidated to cover the cost of the bail bond. The collateral will be released if the accused person shows up to their court date.
The Role of the Co-Signer
Agents of bail bonds may ask for a cosigner to sign the bail bond agreement in addition to collateral. In the event of the defendant’s failure to appear in court, the bail sum is to be paid in full by the co-signer. Before agreeing to co-sign a bail bond agreement, the co-signer should carefully consider the financial commitment and associated risks.
Types of Bail Bonds
Cash Bail
Bail in the form of cash is the simplest option. In order to be freed from jail, the defendant must post bail in full using either cash or a cashier’s check. Cash bail is refundable at the conclusion of the trial if the defendant arrives as planned.
Surety Bonds
The most prevalent form of bail bond is a surety bond. In these arrangements, a bail bond agent helps the defendant and their co-signer obtain the money needed to post bail. The bail bond agent will pay the entire bail money if the defendant fails to appear in court.
Property Bonds
One form of bail bond is not as frequently utilized as the other forms of bonds, and that is the use of one’s own property as collateral to secure the bail sum. Examples of property include land, automobiles, and various other things. The property might be auctioned to pay the bail if the criminal doesn’t show up in court.
The Risks of Bail Bonds
Defaulting on a Bail Bond
One of the biggest risks of using a bail bond is the potential for default. If the defendant doesn’t show up to court when they’re supposed to, the bail bondsman may employ a bounty hunter. to find them and put them back behind bars. In addition, the co-signer of the bail bond agreement may be held responsible for paying the full bail amount if the defendant cannot be located.
High Fees
Another risk of using a bail bond is the high fees associated with them. Bail bond premiums are typically 10% of the total bail cost. which can amount to quite a lot of cash over time. In addition, some bail bond agents may require additional fees for their services, such as travel expenses or administrative fees.
Legal Consequences
The defendant’s legal situation can worsen if they use a bail bond. The offender may be charged with bail jumping and subject to fines, jail time, or both if they fail to appear in court as required. Because they will be expected to attend court on the appointed date, defendants who post bail may restrict their freedom of movement before trial.
Conclusion
When someone is arrested but lacks the financial resources to post bail in full, bail bonds can be invaluable for ensuring their release. You should know the potential repercussions if you decide to use a bail bond. Working with a reliable bail bond agent who can give you the information and support you need to make an educated choice is essential if you or a loved one ever ends up in a sticky situation. Knowing the ins and outs of bail bonds can help you make the most informed choice possible.
