Bail bonds are legal financial instruments drawn up between an individual, company or organization and a bail bond broker or agent. The bail bond is drawn up as an agreement between two parties. It states the amount of money that must be provided by the defendant to assure the judge that he will appear in court on the date scheduled. The bail bond may be personally guaranteed by an individual. However, companies or organizations may offer bail bonds. Connecticut Bail Bonds Group – Vernon is one of the authority sites on this topic.
A bail bond is an agreement between a defendant and a legally authorized person who will act as surety for his/her appearance in court on the specified date. In return for this guarantee, the defendant may have to post some form of monetary payment known as recognizance. This means that the court appearances will have to be paid by the defendant until he/she appears in the court on the specified time. Generally, the amount of money that has to be paid by the defendant depends on the nature of the crime with which he/she is charged. Some common categories of criminal charges include DUI (driving under the influence), DWI (driving while intoxicated) and petty crimes like theft.
There are different ways by which bail bonds can be collected. They may be collected from the police department. Most people however, prefer to use the services of bail bonds companies. This is because they know how to collect the money from the defendants in the most convenient and efficient manner. These companies have sophisticated and refined collection systems and are capable of collecting the funds from almost all types of defendants.
The process of gathering the funds to secure the defendant’s release is relatively simple. In fact, it is so easy that it would not take more than a few minutes to arrange the necessary documents. In fact, the process is simple and straight forward that any layman would be able to arrange for the bondsman to collect the money on the required date. For instance, the defendant can give a property as collateral. This means that if the defendant fails to appear in court, then his security bond will be forfeited. In other words, it is a liability that the defendant would have to compensate if he misses a court date.
The defendant and the lawyer would need to discuss the terms of payment for his bond. In most cases, the defendant would have to pay his bond in cash. This is because the cash is the best form of assurance to a creditor. However, there are some cases where the accused can offer his property or any valuable asset as collateral. In such a case, the bail bondsman would have to arrange for a collateral to ensure that the money is returned in case the defendant misses a court date.
Commercial bail bonds are another option available for defendants that are accused of a crime. Commercial bail bonds are more common among businessmen accused of crimes like fraud, theft, and embezzlement. The commercial bail bondsmen offer higher amount of money to defendants than the local jail authorities. The charges here are lower as well.
There are also other options for defendants that cannot afford the typical type of bail bonds. One of these options is to use an insurance company to shoulder the bail bond cost. Insurance companies have plenty of choices when it comes to financial service providers. For instance, they can provide their customers with bail bondsmen that specialize in financial matters. It is important for a person accused of a crime to make sure that the attorney chosen by the defendant is licensed to practice in the court he is facing.
If all else fails, one might consider using a bail bondsman or a bail bond company to provide a surety bond. A surety bond is an arrangement made by the defendant or a surety to repay the full amount of money due to him if the defendant fails to appear in court. If this arrangement is not legally binding, then the defendant may request a new surety bond in lieu of going to trial. The bail bondsman is responsible to make sure that this new agreement is legally solvent.