Despite the fact that the justice system is built around the presumption of innocence until guilt has been proven in court, many individuals charged with a crime are unable to be released from jail pending their court appearance. This can lead to a person losing their job, which could put their home and vehicle in jeopardy. Bailbonds provide a way for detained individuals to be released from jail in order to prepare for their trial or hearing while ensuring that they will return to court when required.
A bail bond, also known as a surety bond, is essentially a contract between a defendant, a surety company, and the court. A surety company provides a guarantee to the court system that the individual charged will appear at their hearing.
A defendant is required to sign a contract with the surety company granting the company the authority to reclaim the amount of the bail in the case of the defendant being a no-show.
Bailbonds come with several financial considerations. First, the bail bond must be paid in full before the defendant is released from jail. Bail bond companies are able to process payment in a variety of formats, including cash, credit cards, personal checks, money orders, and bank drafts. Second, the potential defendant or the person paying the bond must provide collateral as security against potential default.