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The Different Types of Bail Bond Services

Bail bond services have four major types and these are used widely in the industry however, you ought to know that this service is varying a bit on the city, state and also, jurisdiction where it’s filed. Cash bonds, surety bonds, immigration bonds and federal bonds are the four most used types of bond services to help a person get their temporary release.

Needless to say, every type of bond comes with a different purpose and use like what is mentioned earlier. I strongly suggest that you keep reading if you like to learn more about this.

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. By the time when the defendant has completed the requirement for the probationary terms of arrest and showed up in all court hearings, the money will then be returned in whole. On the other hand, this bail easily costs around a thousand backs which is why it is not for everyone.

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 another well known option when it comes to obtaining release from jail after arrest. 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 – in comparison to these, they’re not actually as popular as what mentioned earlier. 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 some good reasons, these bonds cost more than other kinds of bail bonds discussed.

Number 4. Immigration bonds – this may seem to be self-explanatory to many but the thing is, it’s way more complicated than what it looks. This is complicated because it is made for crimes that involve foreign nationals and like federal bonds, the bail bondsman takes bigger risks and thus, it is expensive.

Cite: How to Achieve Maximum Success with Finances