The Different Types of Bail Bond Services
Bail bond services have four major types and these are used widely in the industry however, you ought to know that this service is varying a bit on the city, state and also, jurisdiction where it’s filed. Cash bonds, surety bonds, immigration bonds and federal bonds are the four most used types of bond services to help a person get their temporary release.
Of course, each bond type has different purpose and use as what mentioned earlier. With this in mind, if you want to learn more about this matter, I highly recommend that you keep reading.
Number 1. Cash bonds – cash bonds are used in situations when the friend, family members or defendant himself has requested to pay cash for the bail. As soon as the defendant has completed the requirement for their probationary terms of arrest and has showed up in all court hearings, the money will be returned in whole. However, you should know that this is not recommended as bail because it costs thousands of dollars.
Rather than using the money for a release from jail, the money can instead be used for doing more significant or immediate needs. However, this bond type is more popular option amongst elite, professional athletes, celebrities and several exclusive groups.
Number 2. Surety bonds – this is another well known option when it comes to obtaining release from jail after arrest. In surety bonds, it works when a person is arrested and is taken into custody, they or another person may contact professional indemnitor like a bail bondsman to help with the bail process.
Fact is, these are the types of bail bonds that include collateral for the amount of bail required. The reason for this is that, the person who’ll be released will still need to attend questioning on the court like drug testing, counseling and so on which has to be completed or else, it’s the indemnitor who will be accountable of the bail amount.
Number 3. Federal bonds – in comparison to the bond types mentioned above, these aren’t get much popularity. This is all because of the fact that they will be used in federal crimes including tax evasion, bank robbery, embezzlement, kidnapping, counterfeiting, aircraft hi-jack and so on. For good reasons, these bonds are more expensive in comparison to other types of bail bonds discussed.
Number 4. Immigration bonds – this may seem to be self-explanatory to many but the thing is, it’s way more complicated than what it looks. They’re complicated as they’re intended for crimes that are involving foreign nationals and much like federal bonds, they’re pretty expensive as it is requiring the bail bondsman to take greater risks.