4 Types of Bail Bond Services
There are basically four major kinds of bail bonds services that are widely used in the industry but, they can slightly different depending on the city, state and jurisdiction in which this service will be used. The 4 most used bond services used to help a person have a temporary release from jail are cash bonds, surety bonds, immigration bonds and federal bonds.
Needless to say, every type of bond comes with a different purpose and use like what is 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 – these bonds are used in instances when the family members, friend or defendant themselves requested to pay their bail in cash. 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. This isn’t recommended however as bail is typically costing 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. This bond type however is a more popular option amongst the elite, professional athletes, celebrities and several exclusive groups.
Number 2. Surety bonds – after arrest, this is another sought type of bond being used. When it comes to surety bonds, this works when someone gets arrested and taken into custody, they or another person might get in touch with an indemnitor such as bail bondsman to help them with the bail process.
In reality, these kinds of bail bonds normally include some sort of collateral for the bail amount required. This is due to the reason that the person being released will likely have court stipulations ongoing like counseling and drug testing that should be completed or perhaps, the indemnitor will be taking responsibility of the bail amount in whole.
Number 3. Federal bonds – in comparison to these, they’re not actually as popular as what mentioned earlier. This is due to the fact that they’re used only in case of federal crime like tax evasion, bank robbery, embezzlement, kidnapping, counterfeiting, aircraft hi-jack and a lot more. So don’t be surprised if these bonds are a lot more expensive when compared to other bail bonds available.
Number 4. Immigration bonds – this is somewhat self-explanatory yet, it’s more complex than what average person thinks. 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.