An Explanation of Bail Bonds

When someone is arrested on suspicion of a crime, they're taken to jail, and booked and bail bonds are sometimes used to get them out as they await trial. They are a financial obligation that guarantees the person's future appearance in court. It is an obligation the accused person signs to get out of jail and show up in court at a later date. It is a legal paper bought from a licensed agent and given to the court instead of money. When the court has the legal paper, they release the accused from jail to await their court case.

Associated Fees

There are some fees associated with getting bail. The costs may vary by state and the different laws they have. The fees can vary from 8% to 15%, or more, of the amount set by the court to release the accused. All licensed agents are regulated by the state on what they can charge in fees. The regulations say that their fees are not to be excessive, unfairly discriminatory, or inadequate. Some states do not have a set maximum allowable premium that they can charge. Not all states have private agents.

Collateral

You may need collateral for a licensing agent if you do not have the cash necessary. Acceptable collateral may vary depending on the private office. Each office may have standards they use for what collateral is acceptable. Typically, collateral includes real estate, jewelry, cars, stocks, and bank accounts. Other acceptable collateral includes credit cards and personal credit.

If a person misses their court appearance, you may lose the collateral that you used with the licensed agent. Each state has options to fix the situation. The licensed agent is notified there was a missed court appearance and the legal paper is in default. A bench warrant is issued for the arrest of the person. Typically, there is a grace period for the people to turn themselves in and the default is lifted.

Non-refundable Fees

When you pay a premium for bail bonds, you do not get that money back. The fee is what got the accused out of jail, and when they are out of custody, the agent has earned the fee. The fee, or premium, is not refundable. The agent earns the fee by providing a service. They manage the accused and make sure they show up to the court appearances they are required to attend.

Knowing how bail bonds work helps you understand the risks involved. If you need to get someone out of jail, it helps knowing how the process works. Understanding the process can make an unpleasant experience easier to get through. It helps prepare you if you are unexpectedly called on to get someone out of jail.