This may be a question that you have rarely considered: what is a bail bond? When you hear that someone has been released on bail, what does it all mean? How do bail and bail bonds contrast? There can be a lot of confusion when this situation arises. Here are some answers to the most common questions.
What is Bail?
Bail is a certain sum of money that is an agreement or insurance between the courts and the defendant. This sum is usually high, and while defendants can potentially pay in cash, many cannot afford to do so. This is where a bail bond comes into play. A bail bond is a kind of surety bond. These are typically provided by a bond company via a bail bondsman. These bondsmen post bail for the defendant, ensuring their release from jail. Collateral is usually offered to ensure that the bond is repaid.
What can be Accepted as Collateral?
Each company is different and will have different standards. For example, a bail bond agency in Fort Collins, CO may be different than a bail bond agency in Des Moines IA. While the standards may differ, there are usually common themes that are accepted, such as real estate, jewelry, stocks, or other accounts. Occasionally, there is no need for collateral at all. Each situation is different.
What will Bail Cost Me?
Typically, there are premium costs to bail, usually coming it at around 10% of the bail amount. A bail bond agency in Fort Collins, CO can help you find a flexible expense and financing plan to help you make payments.
Do I need a Bail Bondsman?
Technically, the answer is no. Anyone can theoretically “bail you out,” but if your bail is posted by a family member or a friend, they have the right to send you back to jail if they decide the risk of you skipping bail is too high. You can also pay yourself, but because bail can be high, this can be difficult.
Leading statistics on bail bonds state that those who do not attain a bail bond are 90% more likely to have a guilty verdict. If they get a bail bond, this percentage is reduced to 40%. More often, these cases are resolved or dismissed. The advantage of a bail bond is exceptional; don’t let the odds be against you. Contact Alda P & Ron’s Bonds for more information.