5 DIFFERENCES BETWEEN CASH BAIL AND BONDS
The terms “bailed out” and “bonded out” are both frequently used when describing the means by which criminal defendants are released from prison before their trial. However, the two terms differentiate between the source of the money paid in order to allow the prisoner out. Those looking for bail bond companies in Houston, TX, or elsewhere should know the difference between the two payment types available. Let’s look at five difference between cash bail and bond:
A Bond is Needed When There Isn’t Enough Cash
When a defendant or their family cannot come up with enough money to pay for the bail amount, they can receive a bond, where the bail amount is provided by the bail bond company. This is also know as a surety bond. Paying cash bail, or payments made directly to the court, can also be known as a cash bond.
Bonds Are Like A Loan
Like loans, when a defendant or their family gets a bond, there is usually an interest charge, customarily 10% of the total amount of the bail. This 10% is usually the only amount of money paid by the defendant or their family, and is forfeited in the event that the defendant doesn’t make their court date. Collateral, such as a car or a house, is held as a guarantee on the bond. With cash bail, the entirety of the money is returned should the full requirements of the court be fulfilled, perhaps minus court fees.
Bonds Act As A Guarantee
When a bond is secured, this means the bail bond company is making a promise to the court, that should the defendant flee, the bond company will pay the remaining amount owed. Courts accepts this agreement because they know the bond is backed by the collateral.
There Are Other Kinds of Bonds
Interestingly, there are two other kinds of bonds available in certain states. Property bonds are when the defendant posts their property bond to the court, without the use of a bail bond company. Signature bonds are when defendants make a written agreement to the court that state they will pay a set amount of money should they fail to appear in court. Bonds where collateral is backing them up are known as secured bonds, while bonds without collateral behind them are known as unsecured bonds.
Bail Isn’t Always Granted
After someone is arrested, if they are considered by a judge to be a societal threat, or a flight risk, it could be decided that the defendant will not be granted bail. In that event, the defendant must stay in jail until their court date.
Specific Bond Information – http://www.diffen.com/difference/Bail_vs_Bond