Is There A Difference Between Bail And A Bond?
There is very little difference between bail and bond; both are methods of paying or securing a specific amount of money, set by the court, to gain temporary release from jail. Bail is the total amount of money set by the court, paid in cash, to secure the release of the accused while awaiting further court action. Emergency bail bonds in Minneapolis MN on the other hand are a type of insurance policy or credit that is purchased from a bail bonding company or a bail bondsman. The company or the individual posts the money on behalf of the defendant in the criminal action and at the conclusion of all the proceedings this entire amount is returned while the 10 percent fee paid by the accused for the bond is forfeited to the bondsman as profit.
When a person is arrested and charged with a criminal offense the court normally states a bail amount, this is the fee that must be paid by the defendant for his or her temporary release from jail. The amount of bail demanded by the judge is usually set based on the circumstances and seriousness of the crime the accused is charged with, this amount can be many thousands of dollars. If the defendant is not in a position to pay the full amount in cash he or she will usually rely on emergency bail bonds in Minneapolis MN. Either way, should the accused fail to show up in court for trial the bail amount is forfeited in favor of the court. If the bail was put up by a bondsman a bounty hunter can be assigned to track down the bail jumper and bring the accused to court.
A bond is a type of insurance policy, it is a form of guarantee that the full amount of bail will be paid to the court in the event the accused fails to appear for trial. Before a bondsman provides this service they usually demand collateral, in this way should the accused jump bail the bondsman has some recourse as he or she can lay claim to the collateral which in most cases is the home of the accused.
The bondsman normally charges a non-refundable fee of 10 or even 20 percent of the value of the bond. If, for example, the judge sets bail at $20,000 the defendant will only have to put up between $2,000 and $4,000, the balance is paid by the bondsman. If the bondsman considers the applicant for bail to be high risk the application can be denied and the accused will either have to raise the full amount personally or remain in jail until the trial.
The amount of bail demanded by a court can often exceed the amount of cash the accused can raise and as a result he or she will seek emergency bail bonds in Minneapolis MN. You are welcome to contact Liberty Bail Bonds day or night, every day of the week.