4 Types Of Bail Bond Services
Whether you believe it or not, there are 4 types of bail bonds used widely in the industry. On the other hand, depending on the city, state and jurisdiction to which the bonding is taking place, this can have a slight variation. Surety bonds, cash bonds, federal bonds as well as immigration bonds are actually the 4 most common heard of bail bonds used to get a release. As you read the next lines, you will be able to know more about how every type of bail bond works.
Number 1. Cash bonds – this bond is used in a situation to which the family, family member or defendant requested to just pay cash for the pail. As soon as the defendant has completed the probationary terms required of their arrest and showed up to all court hearings, the money will be returned in whole. This type of bail however isn’t for everyone as it often cost thousands of dollars. Than getting a release from jail, the money can be saved instead for doing immediate and important needs. This type of bail however is pretty popular option among celebrities, elite persons, professional athletes and several other exclusive groups.
Number 2. Surety bonds – when planning to get a release from jail, this is yet another option to get. This bail bond works when a person is arrested and taken custody, another individual or themselves may contact an indemnitor like a bail bondsman to help them in the bail process.
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In most instances, such bail bonds have some form of collateral for the bail amount required. This is mainly because of the reason that the individual being released on bail likely have ongoing court stipulations similar to counseling and drug testing that should be completed or else, it is the indmnitor who will take the full responsibility of the entire bail amount. This bail bond is actually the most popular choice among general population.
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Number 3. Federal bonds – compared to the first two bonds discussed, these types are not as popular. The reason for this is that, they are used only in the event that a person has committed federal crime. These crimes may include tax evasion, kidnapping, embezzlement, aircraft hijacking, bank robbery, counterfeiting and so forth. These bonds are expected to be more expensive than the typical bail bonds available due to the gravity of the case.
Number 4. Immigration bonds – compared to what an average person thinks, this is actually more complex. These are crimes for foreign nationals and pretty expensive in price as they require the bail bondsman to take on greater risks.