Whether you believe it or not, there are 4 types of bail bonds used widely in the industry. On the other hand, this can slightly differ depending on the city, state and jurisdiction to which the bonding is taking place. Surety bonds, cash bonds, federal bonds as well as immigration bonds are actually the 4 most common heard of bail bonds used to get a release. In the next paragraphs, you're going to learn about how each type of bail bond works.
Number 1. Cash bonds - this bond here is used in a scenario in which the family, family member or defendant has requested to simply pay cash for the bail. As soon as the defendant has completed the probationary terms required of their arrest and showed up to all court hearings, the money will be returned in whole. 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. However, this type of bail is quite popular option among celebrities, elite persons, professional athletes and several other exclusive groups.
Number 2. Surety bonds - another sought after option when talking about getting a release from jail. 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. Visit this website at https://www.britannica.com/topic/bail-law and know more about bail law.
In most instances, such bail bonds have some form of collateral for the bail amount required. This is mainly because of the reason that the individual being released on bail likely have ongoing court stipulations similar to counseling and drug testing that should be completed or else, it is the indmnitor who will take the full responsibility of the entire bail amount. This type of bail bond is actually the most popular choice among general population.
Number 3. Federal bonds - these are not as popular as what the couple of bonds at this site that are mentioned earlier. 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 is a bit self explanatory and they're more complex than 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.