4 Types Of Bail Bond Services
As a matter of fact, there are 4 different kinds of bail bonds that are used widely in the industry. This can slightly differ on the other hand depending on the city, state and jurisdiction to which the bonding is taking place. The 4 most common heard of bail bonds that are used to obtain a release are surety bonds, cash bonds, federal bonds as well as immigration bonds. 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 – when the family, family member or defendant has requested to pay cash for the bail, this bond takes place. The money paid for the bail will be returned in whole as soon as the defendant completes probationary terms required of their arrest and showed up to all court hearings. This is not recommended for average individuals as this type of bail often requires thousands of dollars. The cash to be paid can instead be saved for immediate and important needs than getting a release from jail. 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 particular bail bond works when someone is arrested and taken custody, another individual or they themselves might contact an indemnitor such as a bail bondsman to assist them in the bailing process.
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These bail bonds normally include some kind of collateral for the bail amount required. This is due to the reason that the individual being released on bail will likely have ongoing court stipulations similar to counseling and drug testing that should be completed or else, the indmnitor will take the responsibility of the entire bail amount. This type of 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. This is due to the reason that they are only used in case that a person has committed federal crime. These crimes can be anything from tax evasion, kidnapping, embezzlement, aircraft hijacking, bank robbery, counterfeiting and so forth. With the gravity of the case, these bonds are expected to be more expensive than common bail bonds available.
Number 4. Immigration bonds – this one is self explanatory and they are more complex than what an average person thinks. These are crimes for foreign nationals and pretty expensive in price as they require the bail bondsman to take on greater risks.