A jail bond is a legal agreement that allows the court to release the accused on condition that they will appear on all court dates. The bail is forfeited to the court if the defendant fails to appear. In simple terms, the accused loses his money.
You can pay the bond with cash or credit card if you can afford the full amount. Alternatively, you can buy different types of bail bonds from a bail bond company. This involves paying a non-refundable premium. Also, you can give assets worth the bail amount to the court. After the case, the court will give your money or asset back.
Below are the Different Types of Jail Bonds
Types of Bail Bonds
If you need to post bail, you should know that there are different types of bail bonds. Each bond is unique to the case and is determined by the judge at a bail hearing. Some types of jail bonds are more common than others.
A surety bond also referred to as bail bond, is a bond given to people who can’t afford bond set by the judge. An Indianapolis bail agent or Indianapolis bail bondsman appears in court and pledge to pay the full amount if the accused fail to appear in court. In Indianapolis, for instance, Marion county bail bond agents charge a certain premium and may hold personal assets as collateral. There are severe repercussions of failure appear in court or pay back the bond company.
As the name suggests, the cash bond requires the accused to settle the full amount of bail through cash. If the judge is determined to have the defendant stay in jail, the court will set an extremely high amount. Judges usually give cash bonds to defendants deemed dangerous to the public or a flight risk. The accused forfeit bond once they fail to appear in court. Besides, the court will issue an arrest warrant. However, the cash bail is returned to the defendant if they comply and attend all court hearings.
Personal Recognizance is a special type of bail bond that does not require the accused to pay any money to the court. The defendant is fully responsible for attending a court hearing. Failure to adhere to set condition the accused is remanded in custody until trial or sentencing. A person recognizance bond is not given to defendants deemed a flight risk or danger to others.
A property bond is one of the common types of bail in which persons’ possessions are used for bail payment. Usually, houses, cars, and other large assets are used. The court places a lien, or claim on the asset. If the defendant fails to attend case dates, the court can possess the property and force the defendant to forfeit ownership. Therefore, you should be very cautious and only use property bond as a last resort. There are Bloomington bail bond companies as well as other Indiana bail bond companies that allow property bonds to be taken as a form of collateral.
Immigration Bail Bond
Immigration bond comes in handy when held by a custom enforcement department, federal immigration, or ICE. This type of bail releases the accused from custody.
Just like a surety bond, if the defendant would be in Madison county, as an example, the defendant would pay a premium to an Anderson bail bondsman who pays the required bond. Accused must attend the hearing.
There are Several Different Types of Jail Bonds
There are different types of jail bonds. The different types of bail are unique to each case. If you can raise enough money for bonds, do not hesitate to speak to a reputable Indianapolis bond agent.