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Basically, a bail bond is a guarantee to the court that an arrested person will show up for his/her scheduled hearing. If you bail someone out of jail, you are actually putting up collateral, usually in the form of money, to grant the person temporary freedom. If the defendant shows up for his/her scheduled court hearing, the collateral will be returned to the person who posted bail.
The accused person’s family and friends draft a document where they agree to pay a certain amount of money as determined by the court, if the defendant fails to return for the trial date. Since most families are not in a position to post a bail on their own, they seek help from bail agents or bondsmen. The liability to pay is then transferred to the bail agent.
You probably do not set out with the intention of being arrested and needing the services of a bail bond agent but in this article we will cover the basics of the bail bonds world and hopefully educate you on the basics that you will need to know in case you ever find yourself in a stick situation.
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Sometimes, a bondsman will refuse to help; this typically happens if the fee that would be collected is not sizeable enough to make it worth his time. The accused person’s bail is posted in cash by the bail bond to the court, then the accused must repay the bail bondsman. Another way to view a bail is as a loan. The accused must post collateral to obtain a bail. If you are you looking for more information in regards to reference stop by our page. Most commonly property such as a home is used as collateral.
Bail agents can be picky about choosing their clients. If you skip bail, they have huge financial responsibilities. In case that you skip bail, they will go after the person who bails you out. Some bail agents may even hire a bounty hunter to come after you, if you don’t show up at the hearing. Remember, if you run, you will be running for the rest of your life.
In order to get a bail bond, you will likely have to put up a cash amount, usually ten to fifteen percent of the total bail with a bond company. If the bond is particularly large, you may have to put up your home or other assets to purchase the bond. A part of the fee you pay to the company is used to purchase an insurance policy that will be collected if you do not keep all the conditions of your bail bonds agent. Rest assured, it you do not meet these conditions, you will eventually pay the full amount due to the company, however.
If the fugitive does not surrender and cannot be found by the forfeiture date, the bail agency remits the entire bond to the court and proceeds with legal action to (seize, if necessary and) liquidate your collateral. By law, the bail agency is required to refund any value received in excess of the bail amount following liquidation.