So, What exactly are Bail Bonds?
A bail bond is a financial arrangement that a bail bondsman will make for a defendant to the court, that the full bail amount will be paid should the defendant fail to appear for all court dates and appearances.This arrangement is a non-refundable Premium of usually 10-15% of the full bail amount paid to the bail bond agency by the parties bailing out the defendant. Should a defendant fail to appear for a court date or appearance the bail bond agency would be required to pay the bail in full. This is why bail agent’s sometimes require collateral to obtain a bail bond. This collateral can be sold and used to pay the full bail amount should the defendant jump bail.
Example of a Bail Bond
The defendants bail is set at $50,000. A bail bondsman with a premium of 10% would collect a non-refundable $5,000 from the parties bailing out the defendant. If collateral is required beyond the premium parties may use assets of certain given value.
Upon resolution of the case no matter the out come, if the defendant appears for all court dates and appearances all assets posted as collateral would be returned in whole by the agency.
If the defendant jumps bail and misses a court date or appearance, all assets and monetary values would be secured by the agency.
The defendants bail is set at $50,000. The Parties wishing to bail the defendant out would be required to pay $50,000 cash upfront to the court, or collateral in assets of certain given value.
Upon resolution of the case no matter the out come, if the defendant appears for all court dates and appearances all assets and or monetary values posted would be returned in whole by the court.
If the defendant jumps bail and misses a court date or appearance, all assets and monetary values would be secured by the court.