News For This Month: Bonds

Things We Need to Know About Bail Bonds Being put to jail for being accused of breaking the law could really be a frightening and at the same time unfamiliar experience, something that we would never wish to experience, again. But thanks to the presumption of innocence in the Universal Declaration of Human Rights, you are innocent until proven guilty and may post for conditional liberty. Fortunately, in some cases, you may be released temporarily until your trial. However, in return, you will be required to provide some sort of guarantee or security so as to assure them that you will return to face the charges against you. This assurance is what we call “bail bond”. Bail bonds are a form of contract between the judge and the defendant that will be turned over to the court. Bail bonds are determined during a bail hearing. Cash, property, and signature bonds are among the usual types. A surety company may also get involved. In cases where a surety is involved, both the surety and the defendant must be present during the hearing. Information about the sources of fund of the collateral and the financial status of the defendant are considered for other cases of bail bond. It is necessary to know and understand the various kinds and forms of bail available, once bail has been set. Cash, checks, and money orders earned and obtained legally are among the forms of allowed forms of cash bail. Property bonds are those legal assets and real estate property presented by the defendant as collateral, and in replacement, for the total bail amount. For those cases where the defendant is financially unable to post his own bail, this is when a licensed third party (surety) company legally takes on the responsibility for the bail amount, and the defendant will have to pay 10% of the total bail amount. There are also cases where the defendant need not to pay for bail, rather, he will have to sign the proper forms and legal papers with the conditions for release.
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Once the bail is decided on, and the request for conditional liberty has been granted, the defendant is obligated to attend to all court proceedings. In the event that the defendant fails to attend a trial, the bail bond is said to be in default. However, there are still a few ways you may want to try to solve the problem. However, if all options fail, the bond will be forfeited to the court no matter what the circumstances may be.The Art of Mastering Businesses