Bail bond agreements can be confusing to those who aren`t familiar with the legal process. But no worries, we`re here to help! In this article, we`ll define what a bail bond agreement is and everything you need to know about it.
When someone gets arrested, they can be released from custody on bail until their trial. Bail is a sum of money paid to the court as a guarantee that the defendant will show up for their trial. However, not everyone can afford to pay bail upfront. This is where bail bond agreements come in.
A bail bond agreement, also known as a surety bond, is a contract between the defendant, the bail bond agency, and the court. The agreement allows the defendant to pay a smaller amount of money, typically 10% of the total bail amount, to the bail bond agency. The agency then pays the full bail amount to the court on behalf of the defendant, securing their release.
The bail bond agency will also require the defendant to provide collateral for the bond. Collateral is a valuable asset, such as a car or property, that the agency can seize if the defendant fails to show up for their trial.
It`s important to note that paying the bail bond fee does not mean that the defendant is off the hook. If the defendant fails to appear in court, the bail bond agency will work with a bounty hunter to locate and apprehend the defendant. The agency can also sue the defendant and their cosigners for any financial losses incurred.
In summary, a bail bond agreement is a contract between the defendant, bail bond agency, and court that allows the defendant to pay a smaller amount of money to secure their release from jail. The agreement also requires the defendant to provide collateral and ensures that they will show up for their trial. If the defendant fails to appear in court, the bail bond agency can seize collateral and work with a bounty hunter to locate the defendant.
