As a matter of fact, bail bond services fall into four different types however, they can vary slightly depending on the state, jurisdiction and city to which this service is filed. The 4 frequently used bond services to help a person get a temporary release from jail are cash bonds, surety bonds, immigration bonds and federal bonds.
Of course, each bond type has different purpose and use as what mentioned earlier. With this in mind, if you want to learn more about this matter, I highly recommend that you keep reading.
Number 1. Cash bonds – for this type of cash bond, it is being utilized in circumstances when the defendant, family members or friend requested to pay the bail in cash. As soon as the defendant has completed the requirement for their probationary terms of arrest and has showed up in all court hearings, the money will be returned in whole. This isn’t recommended however as bail is typically costing thousands of dollars.
Rather than using the money for a release from jail, the money can instead be used for doing more significant or immediate needs. However, this bond type is more popular option amongst elite, professional athletes, celebrities and several exclusive groups.
Number 2. Surety bonds – this is yet another very popular option with regards to obtaining release from jail following arrests. When talking about surety bonds, when someone is taken into custody, another person or themselves can contact professional indemnitor similar to a bail bondsman to assist them with bail.
In reality, these kinds of bail bonds normally include some sort of collateral for the bail amount required. This is because of the reason that the person who is about to be released will have court stipulations ongoing similar to counseling and drug testing that has to be completed or perhaps, the indemnitor wil take responsibility of the entire amount of bail.
Number 3. Federal bonds – now, for these types of bonds, they aren’t as common than the prior mentioned. This is due to the fact that they’re used only in case of federal crime like tax evasion, bank robbery, embezzlement, kidnapping, counterfeiting, aircraft hi-jack and a lot more. For good reasons, these bonds are more expensive in comparison to other types of bail bonds discussed.
Number 4. Immigration bonds – this is somewhat self-explanatory yet, it’s more complex than what average person thinks. They are complicated because it is meant for crimes involving foreign nationals and similar to federal bonds, they are expensive since there’s greater risks to the bail bondsman.