A bail bond is a contract between four entities. First is the bail bond company, who will post the bail for a detainee. Second is the jurisdiction that holds the warrant of arrest. Third is the person applying for a bail bond on the detainee’s behalf, and finally, the defendant.
Basically, the idea is to get a person out of jail, faster. Posting bail is the only option for a detainee. The way a bail bond works is that it is a guarantee between the four entities. Keep in mind that this process may or may not take time. Some bail bond agencies arrange a bail bond with in a twenty four hour period, depending on what amount of the bail has to be posted. Simply put, a single person can not usually gather enough bail money in time or can’t afford to. Bail bond agencies help secure a bail bond for the person in jail.
When a bail is posted through a bail bond, the bail bond agent and the co signers will be the people who have to show up to court, and are “responsible” for the defendant to show up at court. In case, if the defendant is not able or not willing to show up to court, the bail is forfeited to the court. In that case, the bail agency will find and bring the defendant to court on the date given by the court or at a later time.
The bail amount is set by the court, and it depends on the severity of the crime committed by the defendant. Bail agencies need assurance and security to post a bail bond. The co signee will be responsible to hold and post their personal assets for the bail bond company if it is of a bigger value. The fact is that the bail bond agency provides the guarantee to the court that the detainee or defendant will appear to court after being set free from jail. The co signee of the bail bond will make sure that this happens.
Bail bond charges
For a misdemeanor arrest, the bail bond agency will charge up to 20 of the bail amount. For example, if the bail amount is set for $2000, you will have to pay the agency $400. You will not get this amount back; this is the fee for getting a bail bond issued from the agency. There maybe a possibility to have this expense determined to be tax deductible when included on a tax return form.
Collateral or physical assets are required for large amounts of bonds that have to be issued. This is to ensure that the defendant does not flee the state and fly to the Mexico after release. The court will summon the defendant for a court date, and all the people who are involved should be responsible for bringing him or her to court on that date.
If the defendant fails to show up at court or totally absconds, then the co signer is solely responsible for bringing the defendant to court, and the full amount of bail. The co signer will also be responsible for the expenses of the bail agent. Once the defendant is re arrested by the bail agent or by the police, the co signor will also be liable for all the expenses.