If you know someone who is jailed, temporary freedom is possible with the use of bail bonds. In here, you will learn what bail bonds are and how these are obtained.
Definition of Bail Bonds
When we talk of bail bonds, we refer to the contract between four entities, the bail bond company, the court, the defendant, and the co-maker of the bail bond. Actually, the broker has the responsibility of ensuring that the defendant will not fail to make appearance in court during trials or when summoned.
Usually, the families, relatives or friends of these defendants are the ones who contracts reputable bail bond agents to help in their release. The judge is the one who decides the amount of bail and the bail agent receives a certain percentage of this amount. Actually, the money serves is for the release of the defendant and will prevent him or her from fleeing away. The charges of these bail bond companies varies from one area to another. Example, if the court charged you with felony and has imposed $100,000 as bail amount, then usually, it requires the bail bond firm to pay 10% of it or $10,000. Also, the bail amount will not be returned. There are lots of individuals out there who preferred to contract the services of these bail bond companies because they can save not only money and time but also prevent them from the challenges and headaches associated in raising the whole amount. In case the defendants refused or failed to appear to the court whenever they are summoned, then these contracting bail bond companies will pay the whole amount to the court. The charges asked by these bail bond companies vary according to the type of cases filed against you. For example, if your are arrested for misdemeanor, then they charge 20% fee and 10% for felony. To ensure that you will not flee, these companies require the defendants and their families to submit collateral or co-maker. Examples of the accepted collateral are cars, boats, land titles, or their houses. You can also request your dependable accountants to write off the amount of bail that you pay from your next fiscal year taxes.
If you don’t want to experience any challenges and headaches in locating bail bond companies in the future should the need arises, then be sure to know some licensed, trusted, reputable and accredited ones as early as now. Don’t forget to do some deep and prior investigation so as to determine the trustworthy, reputable, established, experienced and accredited bail bond companies and agents operating in the neighborhood or near you. Lastly, it is advised that you contract only the services of bail bond agents and companies with good reviews and feedback from their past clientele.