The Four Main Types of Bail Bonds

Wednesday , 19, February 2020 Comments Off on The Four Main Types of Bail Bonds

There are four main types of bail bonds used in the industry; however, depending on the particular jurisdiction, region, it may differ slightly and state that the bonding occurs. The four most common bail bonds used to secure the release of a prisoner from jail are security bonds, cash bonds, federal bonds, and immigration bonds. Every type of bond has another way of releasing a prisoner from jail. Continue reading to learn more about cash, money, federal bonds, and immigrant bonds; and how to get one in your city or state.Learn more at Connecticut Bail Bonds Group Manchester CT

Cash Bonds A cash bond is used in a case where a suspect, relative, or family member offers to pay the bail directly in cash. Once the defendant meets their arrest’s mandatory probationary terms and shows up to all court hearings, the money is returned in full. Since bail is normally thousands of dollars, this is not a suggested choice. For more important or immediate needs this type of cash can be saved; rather than using it to get a release from jail. This bond form was a popular choice for elite individuals, celebrities, professional athletes and other exclusive classes.

Surety Bonds Surety bonds are another popular choice for getting a release from jail after an arrest. Surety bonds work like this: once a person is arrested and taken into custody, another person or themselves can contact a skilled compensator to assist in the bail process, such as a bail bondman. These types of bail bonds typically include some form of collateral for the amount required for the bail. This is because the person released on bail will most likely have ongoing court stipulations, such as drug testing and counseling, that have to be completed or the compensator assumes responsibility for the whole bail amount. So most likely the personal signing of the bail bond will have to pay a non-refundable fee (a percentage of the full bail amount) as the collateral. This form of bail bond is most common among the population at large.

Federal bonds These bonds are not as common as the previous ones. That is because they’re only used in a federal crime situation. Crimes like this include embezzlement, tax avoidance, abduction, bank robbery, hi-jacking aircraft, counterfeiting and more. For good reason, these bonds are more expensive than other common bail-bond forms. It is very helpful to use a reliable and professional bail bondman for federal bonds, and can make a big difference in the bonding process of an individual.

Immigration bonds This sounds self-explanatory. They are a bit more complicated than the average person would have thought. These are extremely complicated, with crimes involving foreign nationals and non-us residents. Unlike federal bonds, they are costly as they allow a bail bondman to take on a huge amount of risk. For example, a criminal who is a Canadian citizen can commit a crime in the United States, then escape once out on bail back to Canada; leave the bail bond agency responsible for the entire bond (which can vary from thousands to millions of dollars) because the defendant is not here to pay for their crimes.

This is why it is highly recommended to consult a professional and licensed bail bond agent in your area to provide you with accurate information on bail bonds and how they are used in the legal industry.