Bail bonds are issued by insurance firms by a bail bondsman, who serves as an attorney for the insurer to ensure the release of a convicted defendant awaiting trial. The bondsman usually charges a rate of ten percent of the bond volume. Defendants must put up collateral in exchange, such as a second deed of trust or a mortgage on their home. The bail bond is “exonerated” and returned to the insurance firm after the case has reached its conclusion. If a defendant flees the scene of the crime or fails to appear in court, the bonds are forfeited until the defendant returns. A bail bond also serves as a financial promise to the court that the defendant will appear in court as ordered by the court. If you would like to learn more about this, please check out Connecticut Bail Bonds Group.
A bail bond is only good for one year, and if the case lasts longer than that, an extra premium must be paid to keep the bail bond active. Bail bonds are also available at most courts and jails. Bail bonds are accepted in most prisons around the world 24 hours a day, 7 days a week, 365 days a year. Cash option, security bond, property bond, own recognisance, and citation release are some of the various forms of release options available. Depending on the law of the state, the bail sum is determined by a judge or a magistrate.
According to experts in the field, there are a few items to consider before hiring a bail bond agent. Only a licenced bail agent should be hired, and prior to any bail transaction, the bail agent’s licence and identification should be requested. The person who hires the bail agent should also ensure that the bail agent only charges legal rates. It should also be made a point to request copies of all signed contracts and agreements.