There are two different options in bail bonds that allow a person charged with a criminal act to get out of jail until the charges are addressed through the court or by other means.
Secured Bail Bond
The most common option is called a secured bail bond. This is similar to a secured loan from a bank. The individual pays the bail bond company a fee to process the bond, and then also provides collateral or security to cover the amount of the bond.
For example, if the bond ordered by the court is $100,000, the family or the individual can pay a fee of 10% and provide collateral for the balance. This could include a vehicle, high-value jewelry items, real estate, electronics, or other similar items the individual or family owns. Like a loan, these items are only accessed by the bond company if the individual violates the bond and fails to show up at court.
The Unsecured Bail Bond
In some cases, an unsecured bail bond may be offered. This is a contract that holds the defendant to specific conditions outlined in the bond. With a signature on this contract, which includes the commitment to appear before the court on the specified date, there is no collateral required. Failure to complete the terms of the unsecured bail bond contract means the indemnitor/co-signer pays the bond the court has set.
The unsecured or signature bond is typically only offered to people with ties to the community and those charged with nonviolent crimes and non-felony offenses.
To find out more about the various options in bail bonds, call us 24/7 at 720-630-1803.