Bail Bonds 101 – Everything You Need to Know
If you’re considering hiring a bail agent, here are the basics. They include how to find a bondsman, the process of exoneration and forfeiture, and the benefits and drawbacks of hiring a bonding company. These articles will provide you with the information needed to make an informed decision.
Basics of bail bonding
Those who are arrested may need the services of a bail bonding company to get out of jail. Bail bonds are a form of insurance paid by the defendant to ensure that they will appear in court. Bail bonds may be in the form of cash or property. Cash bonds require that the defendant post cash, while real property bonds require that the defendant post real estate (typically the family home).
Cash bonds are usually paid in cash or another form of accepted payment. It is challenging to raise the bail bonds Potter County, PA on short notice. As a result, most people turn to bail bonding companies.
Cost of bail bondsman’s initial fee
The cost of a bail bondsman’s initial fee is essential to consider when deciding. A bail provider will want to make as much money as possible from you as the client. However, some providers charge additional fees for higher bail amounts. For example, if your bail amount is $10,000, a bail provider might charge an extra 8 percent or 6 percent of the bail amount. While this is common, it is essential to remember that the amount you pay is not the only fee you have to pay. Typically, bail providers will charge an additional 6 percent or 8 percent of the bail amount, but state laws prohibit charging more than this. This is because bail providers often have to finance a loan for defendants over the bail amount.
Upfront fees are another cost to consider. Depending on the bail amount, you might be able to pay as little as five percent. However, if your bail amount is more than $10,000, you might want to consider the fees and premium involved with switching co-signers. The upfront fees can add up to hundreds of dollars, so consider them when choosing a bail bond agent.
While it’s possible to be exonerated in a bail bond case, this doesn’t necessarily mean the defendant has been acquitted of the charges. In reality, bail is set to ensure that the defendant shows up to court, so even if a defendant is acquitted of one charge, they might still be charged with other charges. In addition, exoneration without conviction requires a person to pay the costs associated with the court proceedings, but that doesn’t mean the defendant is entirely out of the water.
Another way to be exonerated in a bail bond case is if the defendant has a plea deal or early guilty plea. This is because an early guilty plea means that the defendant doesn’t have to wait for a trial. If, however, the prosecution contests the plea and wants to hold a new trial, they can revoke bail and ask for a new one. Again, the exoneration process is complicated, but it can occur.
Forfeiture is a legal action taken against the principal in the case of a non-appearance by a defendant. For example, this action can be initiated because the defendant failed to appear in court or because the person was hospitalized and did not show up for court. In most cases, forfeiture is deemed a valid reason, but sometimes the defendant fails to appear, and the sureties must forfeit their collateral to cover the bond.
If the defendant does not appear in court on the scheduled date, a judge may revoke the bail or release the defendant on their recognizance. The court will issue a written notice to the person who posted bail and the surety bond agent. After five business days, the court will determine whether forfeiture has occurred and take any further action. If the forfeited bail is less than the amount of the judgment, the defendant may apply for release on their recognizance.
Indemnitor Bail Bonds are contracts entered into by a loved one of the accused. These contracts bear a great amount of responsibility and require extensive consideration and trust in the accused. Indemnitors must pay bail agent and court fees, and they must forfeit any collateral they put up to ensure the release of their loved ones. If anything goes wrong, they are on the hook.
When an Indemnitor bails out a defendant, they are responsible for their appearance in court and any payment plans related to their bond. Furthermore, they are responsible for any costs associated with finding the defendant and returning them to custody. Therefore, the Indemnitor is an essential part of the bail bond process. Those who have ever had a bail bond experience know that they cannot do so without an indemnitor.