Paying bail for a friend or loved one is usually a surprise expense, but depending on the type of bond, you may expect a return of collateral and/or cash. Cash and surety are the two main types of bail bonds. Continue reading to learn how to ensure a full return for each..
Cash Bail Bonds
Cash bonds are an agreement to return at a specific time and date for court after being released from custody. In exchange for this release, the defendant pays a specific amount of money in full prior to release. This bail amount is determined by a judge. If the defendant does not return as agreed, the cash is forfeited completely and a warrant for arrest will be issued to return the defendant to jail. For this type of bond, a bail bondsman is not required. If the defendant appears for all court dates, the money will be fully refunded.
Surety Bail Bonds
Surety bonds are the most well-known and common types of bond. This involves a bail bondsman to cover the cost of the bond. Bail bondsmen charge a fee (usually ten percent) for their services. This fee is not refundable to the defendant. Again, the defendant makes an agreement to return for a court date or dates. If that agreement is not kept, a warrant is issued. If a warrant is issued, a bail bondsman may return their client to jail. For high bail amounts, a surety bail bond is often the only way a defendant can secure release from jail. A bail bondsman may require a co-signer or some form of collateral from the defendant. Once the defendant attends the court date, the collateral may be returned, but the fee paid to the bondsman is non-refundable.
If you have any questions about collateral or the types of fees associated with your bond, don’t hesitate to contact us. We have very competitive rates and are here to help!