Important Facts Regarding Bail Bonds That You Should Be Aware Of
There are so many things that you have to be aware of regarding bail bonds such as the fact that they are bonds given by an insurance company through a bail bondsman who will represent the company itself, so that they can guarantee the release of the accused defendant pending trail. You have to know that the rate by which the bail bondsman is charging is ten percent of the total amount of the bond. In response, what defendants have to do is that they are required to put up a collateral such as a second dead of trust or the mortgage of their own house. Now, when the final decision has already been made regarding this matter, the bail bond will go under the process of exoneration wherein it will go back to the insurance company. On the contrary, when the person who is supposed to be put under trial will abscond or will not make an appearance in the court, the bail bond allotted to them will get forfeited, unless, of course, they return and show themselves in the court. In addition to that, there goes the fact as well that bail bonds are often used to act as a financial guarantee to the court that the defendant will show himself or herself before the law each and every time he or she will be summoned.
There are other vital and essential things that you have to be aware of when it comes to bail bond such as the fact that it will only last for a year and if it so happen that the case goes beyond that, it is typical for an additional premium to be produced to keep the bond working. And also, it has been said that bail bonds are being posted at most courts as well as jails. The truth of the matter is that there has been an increase in the number of jails and courts across the globe that are accepting bail bonds twenty-four hours a day, seven days a week, three hundred sixty five days a year. With regards to this, know that there are so many different types of release options that you can choose from and this may include the following: cash option, security bond, property bond, own recognizance and citation release as well. As for the bail amount that must be provided, the one who will get to decide that is the judge or the magistrate and it will be dependent on the law of the state where the defendant is in.
It is very important for you to choose a bail agent that is licensed and prior to processing any bail transaction, better ask for their license and certification first.