Surety Bail Bonds
Surety bonds are basically insurance which says if the accused fails to fulfill an obligation to another party, the provider of the bond, or “bondsman” is promising to pay the courts full bail amount if the accused doesn’t show up for his or her court appearances.
A surety bond allows the accused to pay a small percentage to the bond company without having to come up enough money to pay for the entire bond amount. It may even be possible to receive part of the money back. If the defendant appears in court, he or she does not have any cash at risk for things like back child support payments or taxes.
Surety bonds do have their disadvantages. Not everyone can get a surety bond. Surety bond companies require applications to receive the bond. The bond company then examines the potential risks and return before choosing whether or not to issue the bond. People with poor finances may not qualify. Surety bonds also have a higher fee than cash bonds do. With a cash bond, the defendant may need to pay a small amount to the court but with a surety bond, he or she will need to pay court fees and surety company fees.
When applying for a surety bond, once approved, your bond agent will inform you of your bond premium and give you the agreement with the bonding company. After the bond premium is paid, and after a signed copy of the agreement is provided, the defendant will receive the original bond with a power of attorney from the surety.
Not all bail bond companies are the same. While some bonding companies will provide high risk bail bond programs to help almost anyone become bonded, some will only consider bonding those with good personal credit.
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