The Four Main Types of Bail Bonds
There are four main types of bail bonds used in the industry; however, it can differ slightly, depending on the particular jurisdiction, city, and state that the bonding is taking place. The four most shared heard-of bail bonds used to acquire a person’s release from jail are surety bonds, cash bonds, federal bonds, and immigration bonds. Each kind of bond has a different method of releasing a person from jail. Continue reading to learn more about cash, surety, federal, and immigrations bonds; in addition as, how to acquire one in your particular city or state.
A cash bond is used in a situation when a defendant, friend, or family member requests to simply pay cash for their bail. Once the defendant completes the required probationary terms of their arrest, and shows up to all their court hearings, the money is returned in whole. This is not a recommended option because bail is usually thousands of dollars. This kind of cash can be saved for more important or immediate needs; instead of using it to acquire a release from jail. This kind of bond has been a popular choice for elite persons, celebrities, specialized athletes, and other exclusive groups.
Surety bonds are another popular choice when it comes to obtaining a release from jail following an arrest. Surety bonds work like this: once a person is arrested and taken into custody, another person or themselves can contact a specialized indemnitor, such as a bail bondsman, to assist in the bail course of action. These types of bail bonds usually include some form of collateral for the required bail amount. This is because the person being released on bail will most likely have current court stipulations, such as drug testing and counseling, that must be completed or the indemnitor takes on the responsibility of the complete bail amount. So the personal signing for the bail bond will most likely have to pay a non-refundable fee (a percentage of the complete bail amount) as the collateral. This form of bail bond is most popular among the general population.
These bonds are not as shared as the ones mentioned above. This is because they are only used in the case of a federal crime. Crimes such as these include embezzlement, tax evasion, kidnapping, bank robbery, aircraft hi-jacking, counterfeiting, and more. These bonds, for good reason, are more expensive than the other shared forms of bail bonds. Using a reputable and experienced bail bondsman for federal bonds is very advantageous and can make a big difference in a person’s bonding course of action.
Immigration bonds sound self-explanatory. They are a little more complicated than the average person would think. They are extremely complicated because they are for crimes that include foreign nationals and non-us citizens. They are expensive, just like federal bonds, because they require a bail bondsman to take on a great deal of risk. For examples, a person that is a citizen of Canada can commit a crime in the United States, then flee back to Canada once out on bail; leaving the bail bond agency responsible for the complete bond (which can range from thousands to millions of dollars) because the defendant is not here to serve for their crimes.
Bail bonds can be quite confusing, most understandable; which is why it is highly recommended to consult a specialized and licensed bail bond agent in your area to give you accurate information on bail bonds and how they are used in the legal industry.