4 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.
Needless to say, every type of bond comes with a different purpose and use like what is mentioned earlier. Thus, if you wish to learn more about this subject, I suggest that you keep on 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. Right after the defendant completed the requirement for the probationary terms of their arrest and showed up in all hearings, the money they paid will be returned. However, you should know that this is not recommended as bail because it costs thousands of dollars.
The truth is, this cash can be saved for an immediate or more significant needs rather than using it to get a release from jail. On the other hand, the elite, professional athletes, celebrities and several exclusive groups are oftentimes uses this kind of bond.
Number 2. Surety bonds – after arrest, this is another sought type of bond being used. When talking about surety bonds, when someone is taken into custody, another person or themselves can contact professional indemnitor similar to a bail bondsman to assist them with bail.
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 because they are only used in case of federal crime similar to tax evasion, bank robbery, embezzlement, kidnapping, counterfeiting, aircraft hi-jack and many more. For good reasons, these bonds are more expensive in comparison to other types of bail bonds discussed.
Number 4. Immigration bonds – this one is a bit self-explanatory however, it is more complex than what average people think. 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.