Important Facts Regarding Bail Bonds That You Should Be Aware Of
There are so many insurance companies out there that are providing bail bonds though a bail bondsman who will act as an agent representing the insurance company to make sure to release the accused defendant pending trail. As for the rate that is being charged by the bail bondsman, well, it is actually ten percent of the total sum of the bond. In return, what usually happens is that the defendants are subjected to give a collateral and this collateral may come in the form of the mortgage of their home or a second deed of trust. 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. That is not the only thing about bail bonds that you should know of since you have to be aware of the fact as well that these bonds serve as a financial guarantee to the court that the defendant will make an appearance every single time he or she is 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. Furthermore, we know for a certain that bail bonds are normally being posted on almost all jails and courts. In fact, we want you to be fully aware of the fact that many of the jails and courts alike in the world are accepting bail bonds twenty four hours a day, seven days a week and three hundred sixty five days a year as well. In line with this matter at hand, you should know by now that there are various kinds of release options that you can choose from such as the citation release, the own recognizance, the property bone, the security bond as well as the cash options. 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.
In accordance to the information given by professionals to industry experts, there are several important factors that one must take into consideration before getting the service of a bail bond agent and one of which is to make sure one hire’s a licensed bail agent, not to mention how important it is for them to ask for the bail agent’s license and certification before any bail transaction.