We’ve all heard on the news: “He was released on 50,000 dollars bail and so on.” But what does it really mean? What is the deposit? How is it different from a deposit?
When a person is arrested for a crime, they are kept in prison until the court date, until the judge is recognized or released on bail.
What is Bail?
Bail is a fixed amount that acts as insurance between the court and the person (defendant) in prison. The defendants have the option to pay bail in cash, but most people cannot.
Most defendants cannot afford to pay the bail on their own, as the bail is usually set at a high amount. They seek help from a bail officer or Bail Agent who has submitted a Bail Bond for them.
Overview of Bail Bond:
Surety Bond is a form of surety bond provided by a surety company through a surety agent or Bail Bonds that guarantees the release of a defendant from prison. There are two types of deposits:
Criminal Surety Bond: Used in criminal cases and allows the defendant to appear in court when summoned by the court and guarantees the payment of the fines or penalties against the defendant.
Civil Deposits: It is used in civil cases and to guarantee the payment of interest and expenses as well as debt to be covered by the defendant.
Bail Bonds Working:
A judge determines the bail amount. In the event that the accused cannot pay the surety fee alone, the surety may request assistance in the form of surety from the surety.
To claim bail, the defendant is usually required to pay 10% of the bail amount as a surety.
The surety will guarantee the remainder of the deposit in the form of a guarantee. If the defendant does not have enough collateral, the Bail Bond can seek relatives and friends to help meet the bail. Additional cash payment and a full guarantee are usually required for deposit registration. What happens next depends on whether the accused goes to court after being released.
- If the defendant does not appear in court: the bail is canceled and the court requests the remaining 90% of the bail paid. The bailiff will use the defendant’s collateral (house, jewelry, stock, etc.) to pay the remaining amount of the bond to the court.
- If the defendant goes to court: When the court case is concluded, the bail is released and returned to the person who sent the bail. The guarantor keeps the 10% cash commission as profit.
Get a Bail Bond:
Because if the defendant fails to appear in court, the bail company that issued the bond is responsible for the entire penalty. Of course, due to the nature of the guarantors, the surety company would demand compensation from the defendant in order to recover the penalties owed.
Some states banned the Bail Bondsman (Illinois, Kentucky, Oregon, and Wisconsin). These states still have Bail Bonds, but the payment of 10% of the bond goes to the court, not the surety.
It is important to understand the risk associated with Bail Bonds. Before issuing a bond, insurers will assess the total risk of offering a cover, including personal life, financial condition, family circumstances, and the case itself. It is not easy to approve and often requires other people to compensate the defendant or sign it together.