What’s a Bail Bond and How Does It Work?

 Being convicted and called for a court hearing can be stressful for both the defendant and their loved ones.

Getting bailed out of jail is possible, but there are many steps. And sometimes, the bail is set very high.

But what does a bail bond really do? This article will help you out.



What Is a Bail Bond?

If the defendant can't afford bail, they have to wait in jail until the trial date. These bails are set very high, so defendants can't pay them. That’s why they have to ask for help from bail bondsmen.  

A bail bond is a method to get out of jail until the court date. It’s an agreement that acts as insurance to appear for a trial or a fee set by the court. Bail bonds are surety bonds endorsed by bail bondsmen.

Types of Bail Bonds

There are two types of bail bonds: Criminal and civil bail bonds.

Criminal bail bonds are for criminal cases, and act as a guarantee that the defendant will appear on the day of trial. They also work as an agreement to pay for any fines or penalties decided by the court.

Civil bonds work for civil cases. They guarantee the payment of the debt, plus interest and costs, decided against the defendant.

How Do Bail Bonds Work?

The defendant is usually given a bail hearing before a judge. The judge sets the amount of bail and may refuse bail altogether. They can also set astronomically high rates of bail. This usually happens if the defendant is a flight risk or charged with a violent crime.

The defendant can either remain in jail or arrange a bail bond. That’s where bail bondsmen come in. They provide written agreements to criminal courts to pay the bail in full if the defendant doesn’t appear on the trial dates. Bail bondsmen charge 10% upfront of the bail amount to post a bail bond. They might also ask for a statement of creditworthiness.

 



If the defendant appears in court, the bail bond gets dissolved. And the collateral (house, jewelry, etc.) is given to the person who posted the bond. The bond is forfeited if the defendant doesn’t appear in court. The court then asks for the remaining 90% of the bail. The bail bondsman then uses the collateral to pay for the remaining amount.

At Ron Davis Insurance, you can sign up for bail bonds for as low as 8%!

Ron Davis Insurance is an insurance company in Elkhart that offers easily customizable policy options that work for you! You can reach out and avail their round-the-clock services anytime. You can even get your bonds processed over the phone!

Give them a call now for more information on their insurance services in Elkhart!

Comments

Post a Comment

Popular posts from this blog

3 Factors to Consider Before Getting Life Insurance

Image
The pandemic has reminded us of the importance of quality healthcare. According to a recent survey conducted by the Insurance Barometer study , one in three Americans will be more likely to get a life insurance policy in 2022. However, finding the right life insurance policy isn’t as easy as it sounds. From finding a reliable insurance provider to understanding all their requirements, it can be a challenge for you to select the best insurance deal. Continue reading this article to find three aspects you should consider before getting life insurance. Assess Your Financial Condition It’s no secret that the pandemic affected the financial condition  of many Americans. In these circumstances, it's important for you to assess your financial standing before getting a life insurance deal. Review your bank balance and financial assets to determine what type of life insurance policy will be best for you and your family. If you’re finding it difficult to scrutinize your financial situation, ...
Read more

Bail Bonds 101: All You Need To Know

Image
  No one wants to see their loved ones behind the bar. However, managing the court appearances and the payments can be time-consuming and a financial burden. So, what can you do in such extreme circumstances? If you want to keep your loved one from going to jail, you should get your hands on bail bonds. It’s an excellent tool to secure freedom for the defendant. Keep reading this article to find more about bail bonds. The Basics Of Bail Bonds Every arrested individual has to appear in a US court  for the trial. However, many individuals panic during these circumstances and don’t visit the court. This is why the bail system was introduced, which is a way for the defendant to promise that they’ll appear for the trial. The bail system requires the defendant to pay a certain amount that is decided by the judge before the trial. However, if you’re opting for a bail bond, you’ll only have to pay a small percentage to a third-party bail bondsman, who can ensure your presence in the c...
Read more

A Guide to Buying Commercial Insurance: What You Need to Know?

Image
  Commercial insurance  is a very important part of running a business. While it may seem like it's not the most exciting thing to think about, without commercial insurance ,  your business can suffer major losses from issues such as fire and theft. Business insurance covers the three aspects of owning a business: property, people, and liability. This guide will discuss these three areas in detail, so you know exactly what you need for your company. 1.  Property Aspect: Generally, commercial property insurance covers the building and its contents—the things you own, like desks, computers, machinery, and inventory. When you're evaluating a commercial property policy, make sure to look at all the different types of property your company may have—such as office equipment or machines, operating equipment like computers/software, supplies like paper and toner, merchandise, and food. Commercial property insurance provides coverage for various risks to your commercial busin...
Read more