How Do Bail Bonds Work?Posted by: Finlay Hewitt | Posted on: July 11, 2019
When a person is brought to jail, certainly they would think of how to get out of it as fast as possible. And, typically, people would post a bail to get out. We may have all seen news on the TV about people posting bail with a definite amount. Defendants can pay it in cash, but not everyone is privileged to do this. Since bails are often at a peak amount, many people are asking aids from the South Bay bail bonds.
When one is arrested and is presented to the court, the judge will set the bail. It is the money value fixed by the judge during the court hearing. This entails as an assurance that a person who paid the amount will be released while waiting for the next court hearing. This is likened to deposit money to guarantee that he will show up in the court as it can be returned.
However, there are circumstances where the arrested cannot provide the said amount. While others may negotiate with the judge to lower it down, they may ask bond agencies to pay the bail for them. Bail bonds are classifications of a surety bond from surety bond companies. They usually come as agents or bondsman to ensure the release of arrestee from jail.
In case you did not know, it has two types. Firstly, is falling under criminal bond. This is often utilized in criminal proceedings and ensures that the arrestee will show up for the trial. It also entails to payment of possible penalties and fines against him. Second, is the civil bond. It is for civil cases, and guarantees to pay any debt and other financial assessment against the defendant.
When you post for a Bail Bond, defendants are mandated to pay the agents ten percent of the given amount. They will then provide the rest of the amount through collateral from. However, failure to have sufficient collateral, bondsman could seek from your friends and relatives for assistance in covering the amount.
After the said procedures, everything relies on the criminal arrestee after he was released. For instance, the bond would be yielded. Then, court will demand its remaining percentage of ninety to get paid. This is where the collaterals come in handy. May it be house, stocks, or jewelry, it must be used to wage the remaining amount.
On the other hand, if he shows up in court and has brought the case into conclusion, it will be dissolved and collateral taken to be returned to the one who posted it. If you have remembered about the ten percent payment, that becomes the profit to the agent. Although it may sound easy to some, there are other complications in this matter.
When you file for this assistance, it is a dangerous thing to write. This is due to the probability of defendant to not turn up on necessary dates. If they fail to be there, the company is then held liable of the penalty it follows. However, borrowers cannot just hide simply as they would search for you to get compensation on account of the penalty.
It is crucial to know the available risks of getting involved with these providers. Also, underwriters will keenly evaluate the totality condition of posting the bond. It will include an evaluation of your personal life, financial capability, family status, and your case itself before they approve your request.