9 Bail Bond Jargons You Need to Know About
At times when you find yourself in a tight spot, facing legal trouble and the possibility of incarceration, Raleigh bail bonds can be a glimmer of hope. However, as you delve deeper into the bail bonding process, you might encounter a myriad of confusing terminologies that leave you scratching your head. Getting arrested and thrown in jail is probably one of the most traumatic experiences in anyone’s life and at such a low point in life if you want a sneak peek into the common bail bond jargon, we have compiled a guide for you!
1. Bail
If we have to start with the basics, bail can be defined as the amount or sum of money set by the court as an incentive. The bail amount assures that a defendant will appear for all the hearings once they are released from custody while their case is pending. Bail also serves as an assurance that the defendant won’t be a threat to the community in addition to being a flight risk while they are on bail.
2. Bail Bond
Also known as surety bonds, bail bonds are a financial guarantee offered by professional bail bond agencies to secure the release of a defendant. The bond covers the entire amount of the bail set by the court and if the defendant or their family can’t pay the bail determined by the judges they can search for bail bondsmen near me.
3. Premium
The premium is the fee charged by the bail bondsman for their services. It is typically a percentage of the total bail amount, usually around 15% and the fee is non-refundable because it serves as the bondsman’s compensation for taking on the risk.
4. Collateral
Collateral refers to assets or property that a defendant or their family pledges to the bail bondsman as security for the bond. If the defendant fails to appear in court, the bondsman can seize the collateral to cover the outstanding amount.
5. Indemnitor
An indemnitor, also known as a cosigner or guarantor, is an individual who assumes financial responsibility for the defendant’s bail bond. They sign a contract with the bail bondsman, agreeing to pay the full bail amount if the defendant fails to appear in court.
6. Bail Forfeiture
Bail forfeiture occurs when a defendant fails to appear in court as required. In such cases, the court can order the bail bond forfeited, meaning the full amount becomes due. The bondsman can then pursue the defendant and the indemnitor for repayment.
7. Exoneration
Exoneration occurs when the court releases the defendant from the obligation to pay the bail bond. This typically happens when the case is resolved or the defendant fulfills all court requirements.
8. Bail Jumping
Bail jumping refers to the act of intentionally failing to appear in court after being released on bail. It is a serious offense and can result in additional charges, the revocation of bail, and the forfeiture of the bond.
9. Remand
Remand refers to the act of returning a defendant to custody after bail has been revoked. This can happen if the defendant violates bail conditions, fails to appear in court, or poses a threat to the community.
Still, searching for bail bonds near meor wondering about the perks of using bail bond services? Drop a line to the professionals at Amistad Bail and Immigration Bonds now!