Getting charged and spending time in prison while you’re convicted of a felony will be an unpleasant and terrifying event. Thankfully, because you are constitutionally innocent unless proved guilty, a judge can in certain cases require you to be released before your hearing or trial is finished. Nevertheless, before you may be released from prison, the judge can require that you have some sort of assurance that you will return to face the charges against you. This insurance is called a Bail Bond, and it typically needs to be delivered to the court in the form of cash, money, a signature bond, a safe bond by a protection firm, or a combination of types. Read more on 24Hour Bail Bonds Financing-New Haven 24 Hour Bail Bonds.
Bail guarantees are usually established during a standardized bail trial process. This is when the Judge meets with the accused (Defendant) and hears information as to whether or not bailing is appropriate. If certain types of bail bonds are considered, such as a secured bond or property bond, the judge will consider information on the financial resources of the defendant, and the sources of whatever property or funds are used as collateral for the bail bond. When someone else provides bail for the Defendant, they are called a Surety and their financial condition must always be taken into account.
When a Surety is interested with bail payment, he will be associated with the Defendant at the bail meeting, and the Judge must remind each of them of their different responsibilities and duties. It is very important to note that the bail may be revoked and forfeited if the defendant fails to fulfill his responsibilities and appears for subsequent hearings and court dates, or if he violates any conditions of his release. And it is really necessary that the Surety support the Convict before issuing bail.
Once the bail is set, it’s important to understand the different bail options. “Cash” bail may include cash but can usually be paid through certified checks, cashier’s checks or money orders as well. It is very important to keep the receipt they receive for whoever posts the cash bail so that they can collect their refund once the bail terms have been met. Based on the sum of cash bond, filling out tax forms such as IRS Form W-9 might also be mandatory for the Plaintiff or Surety.
Like cash bail, signature guarantees indicate a criminal need not post any money or properties as security. The suspect typically simply has to sign the correct documents to be issued for the court clerk. So to make sure the Plaintiff knows just what he will do such that his bail is not withdrawn, it is really necessary to pay careful attention to the terms or orders which the Judge has issued.
Corporate Surety Bonds are bail bonds which Bail bondholders secure. The Defendant or the Surety usually pays the bondman 10 percent of the total bail amount, and the Defendant or the Surety must have sufficient financial assets to pay the remainder of the bond if the bail is revoked or the Defendant fails to meet the conditions of his bail. However if the Accused fulfills any of his bail terms, the 10 percent stays the bail bondman ‘s interest which is not given to the convict. Sometimes a judge may approve property bonds to secure a bond as collateral. The Judge will usually require that the Defendant or Surety provide proof of ownership of the property, as well as a value assessment, and a list of any existing claims or other burdens against the property.