A bail bond is a contractual agreement between the defendant and the court, whereby the defendant agrees to surrender himself before the court if found guilty in the court. A bail bond, in simple terms, refers to a promise by the defendant to return to the court on the scheduled date if charged of the crime he is accused of. The bail bond acts as security, which can be in the form of cash, property or a guarantee of performance of specified obligations or promises made by the defendant before the court. A bail bond, or in simple terms, a bail amount, is a promise made by a defendant to pay the bail amount in exchange for his release by the court if found guilty of the crime. Have a look at these details for more info on this.
A bail bondsman, bond trader, bail bondsman or bond agent is any individual firm or company that will act as guarantor of the defendant’s appearance in court and pledge property or money as bail for his appearance in court. The bail bondsman will also hold the defendant’s signature bond and will also hold the defendant’s bail bonds bond. This bond will be released on the defendant’s request at the scheduled time by the bail bondsman. If the defendant fails to appear for his court date he must turn himself in to the court and if the case is resolved in his favor then the defendant will have to pay the bail amount and the bail bondsman is paid out. If the case is ruled against him then he will lose his chance to pay the bail amount.
There are two types of bail Bondsmen, the first being the public bail bond and the second being the private bail bond. A public bail bond can be used by anyone. The first advantage of this is that it does not require a court date and no one can demand that the defendant came in for bail. On the other hand, private bail bonds are usually reserved for high-profile cases and when a person fails to come in for bail then the case is disposed of by the court. A third type of bail bondsmen is the corporate bond. This type of bond is usually used by companies and corporations to help finance their operations.