Being arrested and spending time in prison after being convicted of a crime can be an unfamiliar and terrifying experience. Fortunately, since you are presumed innocent until proven guilty, a judge can grant you bail until your hearing or trial. Before you may be released from jail, the judge will require you to have some kind of assurance that you will return to face the charges against you. A Bail Bond is a type of collateral that must be presented to the court in the form of cash, property, a signature bond, a secured bond by a surety firm, or a combination of types. Have a look at this site.
Bail bonds are normally set at a bail hearing, which is a standardised process. This is where the Judge meets with the accused (Defendant) and gathers evidence to determine whether or not bail should be set. When considering such forms of bail bonds, such as a secured bond or a property bond, the Judge will take into account the Defendant’s financial capital as well as the origins of the property or funds that will be used as collateral for the bail bond. Anyone who posts bail for the Defendant is called a Surety, and their financial situation will be taken into account.
If a Surety is interested in providing bail, he must attend the bail hearing with the Defendant, and the Judge will explain their different rights and duties to all of them. The Defendant’s bail may be withdrawn and forfeited if he fails to meet his obligations and appear for future hearings and court dates, or if he breaches any terms of his release. Before posting bail, it is important that the Surety has confidence in the Defendant.
It is crucial to consider the different bail options once the bail has been set. Bail can be paid in cash, but it is most generally paid in certified checks, cashier’s checks, or money orders. It is important for whoever posts cash bail to retain the receipt they get so that they can get their refund after the bail conditions have been met. Depending on the amount of cash bail, the Defendant or Surety may also be required to complete tax forms such as IRS Form W-9.
Unlike cash bail, signature bonds do not require the defendant to post any money or property as collateral. To be released, the Defendant usually only has to sign the appropriate documents for the court clerk. However, it is important to pay careful attention to any terms or orders issued by the Judge to ensure that the Defendant knows precisely what he must do to prevent getting his bail revoked.
Bail bonds secured by Bail Bondsmen are known as Corporate Surety Bonds. Typically, the Defendant or Surety owes the bondsman 10% of the overall bail sum, and the Defendant or Surety must have ample financial assets to cover the remainder of the bond if the bail is revoked or if the Defendant fails to satisfy the bail conditions. Even if the prisoner complies with all of his bail terms, the 10% remains the bail bondsman’s property and is not returned to him.