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We've all heard on the news, "So-and-so has actually been launched on $50,000 bail." However what does this actually mean? What is a bail? How does it differ from a Bail Bond?
When someone is detained for a criminal activity, they are held in jail until their court date, until the judge decides to let them go on their own recognizance, or until they are released on bail.
* Please note that we (Surety Solutions) do not offer Bail Bonds. This post is implied to be an informative post. *.
what is Bail?
Bail is a set quantity of money that acts as insurance in between the court and the individual in prison (the accused.) Defendants have the option to pay their bail in cash, however numerous can not do this.
Because bail is often set at a high amount, most defendants are economically not able to post bail on their own. They seek help from a bail representative, or Bondsman, who publishes a Bail Bond for them.
What is a Bail Bond?
A Bail Bond is a type of surety bond provided by a surety bond business through a bail agent or Bail Bail bondsman that secures the release of an offender from jail. There are 2 types of Bail Bonds:.
Lawbreaker Bail Bond: used in criminal cases and warranties that an accused appear for trial when called upon by the court and warranties payment for any fines or charges that are chosen against the offender.
Civil Bail Bond: used in civil cases and ensure the payment of the debt, plus interest and costs, examined against the offender.
How do Bail Bonds Work?
A judge sets a bail amount. If the accused can not pay the bail quantity by themselves, they can seek assistance from a Bondsman in the form of a Bail Bond.
To post a Bail Bond, an offender is typically required to pay a Bondsman 10% of the bail amount.
The Bondsman will then secure the remainder of the bail quantity in the kind of security. If the defendant does not have enough collateral, the Bondsman may look for loved ones and buddies to assist in covering the bail.
Oftentimes, an additional cash payment plus full collateral is needed for a Bail Bond to be published.
what takes place next depends upon if the offender appears in court after being launched.
If offender stops working to appear in court: The Bail Bond is forfeited and the court requires the remaining 90% of the bail to be paid. The Bail Bondsman will utilize the offender's security (home, fashion jewelry, stocks, etc) to pay the court the remaining bail quantity.
If an offender does stand for court: Upon conclusion of the court case, the Bail Bond is dissolved and the security is gone back to the Bail Bonds In Boardman Ohio person who published it. The Bondsman keeps the 10% cash fee as profit.Bail Bond Example.
For instance, John is detained. The court set John's bail at $10,000. John wishes to be released from prison but he does not have $10,000 in money, so he seeks aid from a Bondsman to post a Bail Bond for him.
The bail bondsman requires $1,000 to post a Bail Bond for John, hence releasing him from prison.
For the other $9,000 of bail, the bondsman protects collateral from John and/or John's family. Security could be in the type of a car, a home, jewelry, and so on
. As long as John appears at all necessary court dates, the Bondsman requires no more cash and the Bail Bond is liquified at the conclusion of John's case. John's would get his $9,000 in collateral returned, however he would not get the $1,000 back; the bondsman would keep this as revenue.