The Different Types of Bail Bond Services
As a matter of fact, bail bond services fall into four different types however, they can vary slightly depending on the state, jurisdiction and city to which this service is filed. The 4 most used bond services used to help a person have a temporary release from jail are cash bonds, surety bonds, immigration bonds and federal bonds.
Needless to say, every type of bond comes with a different purpose and use like what is mentioned earlier. With this in mind, if you want to learn more about this matter, I highly recommend that you keep reading.
Number 1. Cash bonds – these bonds are used in instances when the family members, friend or defendant themselves requested to pay their bail in cash. As soon as the defendant has completed the requirement for their probationary terms of arrest and has showed up in all court hearings, the money will be returned in whole. On the other hand, this bail easily costs around a thousand backs which is why it is not for everyone.
The truth is, this cash can be saved for an immediate or more significant needs rather than using it to get a release from jail. On the other hand, the elite, professional athletes, celebrities and several exclusive groups are oftentimes uses this kind of bond.
Number 2. Surety bonds – this is yet another very popular option with regards to obtaining release from jail following arrests. In surety bonds, it works when a person is arrested and is taken into custody, they or another person may contact professional indemnitor like a bail bondsman to help with the bail process.
Fact is, these are the types of bail bonds that include collateral for the amount of bail required. This is because of the reason that the person who is about to be released will have court stipulations ongoing similar to counseling and drug testing that has to be completed or perhaps, the indemnitor wil take responsibility of the entire amount of bail.
Number 3. Federal bonds – in comparison to these, they’re not actually as popular as what mentioned earlier. This is because they are only used in case of federal crime similar to tax evasion, bank robbery, embezzlement, kidnapping, counterfeiting, aircraft hi-jack and many more. For some good reasons, these bonds cost more than other kinds of bail bonds discussed.
Number 4. Immigration bonds – this is somewhat self-explanatory yet, it’s more complex than what average person thinks. They are complicated because it is meant for crimes involving foreign nationals and similar to federal bonds, they are expensive since there’s greater risks to the bail bondsman.