Getting arrested and spending time in prison can be an unfamiliar and terrifying experience when you are convicted of a crime. Fortunately, because you are legally innocent until proven guilty, a judge can allow you to be released before your hearing or trial in many instances. However before you can be released from jail, the judge may order that you have some sort of assurance that you will return to face the charges against you. This protection is referred to as a Bail Bond and must typically be transferred to the court in the form of cash, money, a signature bond, a secured bond by a security firm, or a mix of forms. If you’re looking for more tips, -What Is The Difference Between a Bail and a Bond? has it for you.
During a formal process called a bail hearing, bail bonds are typically set. This is where the Judge sees the convicted person (Defendant) and hears data on whether it is necessary to set bail or not. If such forms of bail bonds are considered, such as a secured bond or property bond, the Judge will consider facts about the financial resources of the defendant and will use the origins of the assets or funds as collateral for the bail bond. If someone else posts bail for the defendant, they are assumed to be a guarantee and their financial condition will also be taken into account.
If a Surety is interested in providing bail, along with the defendant, he must be present at the bail hearing, and the Judge will remind each of them of their respective duties and responsibilities. It is very important to remember that the bail may be withdrawn and forfeited if the defendant fails to fulfil his obligations and appears for future trials and court dates, or if he breaches the terms of his release. So it is very important that before posting bail, the Surety has faith in the Defendant.
It is necessary to consider the different bail options once the bail has been set. “Cash” bail can include cash, but certified checks, cashier’s checks or money orders may usually also pay for it. It is also important that someone who posts the cash bail retains the receipt they get so that after the terms of the bail have been fulfilled, they will be able to claim their refund. Depending on the amount of cash bail, it may also be required to complete tax forms such as IRS Form W-9 for the Defendant or Surety.
Unlike cash bail, signature bonds mean that no funds or property need to be posted as collateral for a defendant. The offender typically only has to sign the necessary documents for the court clerk to be released. But to ensure that the defendant knows precisely what he must do so that his bail is not revoked, it is very important to pay careful attention to any terms or orders that the Judge has issued.
Bail bonds that are backed by bail bonds are corporate security bonds. The defendant or the Surety normally pays the bondman 10 percent of the total bail sum, and the defendant or the Surety must have ample financial assets that if the bail is revoked or if the defendant does not satisfy the terms of his bail, they will pay the remainder of the bond. The 10 percent remains the property of the bail bondman and is not returned to the defendant even though the defendant fulfils all of his bail conditions.