When a person is arrested, they may be given the option to post bail in order to be released from jail while they await trial. The cost of bail can vary depending on the crime, the accused person’s criminal history and the area they are arrested in.
Bail Bonds 101: How it works
The traditional way to post bail is to pay the full amount in cash to the court. However, not everyone has that kind of money lying around. That’s where bail bonds come in. A bail bond is a contract between the accused person, the bail bond agent and a guarantor (usually a friend or family member of the accused) in which the agent agrees to pay the full bail amount to the court in exchange for a non-refundable fee (usually 10% of the bail amount) from the accused or the guarantor. The agent also requires collateral, such as property or jewelry, to secure the bond.
Can You Get Your Money Back?
The answer is it depends on the type of bail bond and the outcome of the case. Here are the details of money back:
Surety Bail
A surety bond is a type of bail bond in which an insurance company, through a bail agent, acts as the surety and guarantees the appearance of the accused person in court. The accused or the guarantor pays a non-refundable fee to the bail agent, who then pays the full bail amount to the court. In this case, if the accused person fails to appear in court, the insurance company is held responsible for paying the full bail amount to the court.
Cash Bail
Cash bail is a type of bail in which the accused or a guarantor pays the full bail amount in cash to the court. The cash bail is returned if the accused appears in court as required. However, if the accused fails to appear in court, the cash bail is forfeited and may be applied to any fines or penalties that the accused may incur.
Property Bond
A property bond is when a property is used as collateral to secure the bail bond. If the accused appears in court as required, the property is returned to the owner in this case. But, if the accused fails to appear in court, the property may be sold to pay the bail amount.
In conclusion, posting bail can be an expensive and stressful process. Understanding the different types of bail bonds and their outcomes can help you make an informed decision on securing your release from jail and protecting your finances. It’s always recommended to consult with a reputable bail bond agent and to have a clear understanding of the terms and conditions of the bail bond contract before signing.
If they’re in need of a bail bond, Barrino Bail Bonds is a trusted and reputable company they can rely on. With years of experience and a team of dedicated agents, they can provide professional and compassionate service throughout the bail bond process. They offer fair prices and work with their clients to understand their charges and the different types of bail bonds available, ensuring they have the best chance of getting their bail money back. Contact them today at barrinobonds.com for more information.