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Cash bonds are returned to the one who posted them when the Court orders the bond exonerated or when the case has been completed. Cash bonds may not be returned if the Court forfeits the bond for payment of fines or if the defendant Failed to Appear to his hearing. For a complete discussion of cash bonds and Frequently Asked Questions see http://cashonlybailbonds.com/faqs.html
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What does cash only bond mean?
A cash-only bond means that the individual must pay the entire bond amount in cash, either in full or through a bail bondsman who requires cash collateral. This type of bond does not allow the use of property, assets, or other forms of payment to secure the release of the individual from custody.
Does a bail bondsman pay the entire bond amount?
No, a bail bondsman typically charges a fee, usually around 10-15% of the total bond amount, to post bail on behalf of the defendant. The defendant or their co-signer is responsible for paying this fee, not the full bond amount.
What is the role of a bail bondsman?
A bail bondsman is responsible for posting bail on behalf of an individual who has been arrested. They charge a non-refundable fee to provide the financial guarantee to the court that the individual will appear for their scheduled court dates. If the individual fails to appear, the bail bondsman may be required to pay the remaining bail amount.
Bail?
Bail is the release of a defendant in a criminal case in exchange for money or collateral, with the understanding that the defendant will return for their court appearances. Bail amount is typically set by a judge based on factors like the severity of the crime and the defendant's flight risk. If the defendant fails to appear in court, they may forfeit the bail money and could face additional legal consequences.
Someone wrote you a check for 975.00 but there is no money in the account?
If someone writes you a check for $975.00 and there are insufficient funds in their account, the check will likely bounce or be returned unpaid when you try to cash or deposit it. You should contact the person who wrote the check to discuss the situation and potentially find an alternative payment method.
What can happen to someone who posted bail for someone else and that someone else fled?
If the person posted a cash or property bond for the defendant, the person will lose their cash or property. If the person hired a bondsman for the defendant, the bondsman will be liable for the difference, and will send a bounty hunter after the defendant. They may or may not come back to the original person for the balance of the bond, depending on applicable state law and the circumstances.
What does it mean to allow a person to be released on 249K bond?
It means that the defendant may be released from jail prior to trial by posting a cash or property bond in the value of $249,000.00 with the court. That amount was deemed by the court sufficient to ensure the defendant's appearance at trial.
What does cash only bond mean?
A cash-only bond means that the individual must pay the entire bond amount in cash, either in full or through a bail bondsman who requires cash collateral. This type of bond does not allow the use of property, assets, or other forms of payment to secure the release of the individual from custody.
What types of bail bonds are there?
Collateral or cash bond (actual cash posted or pledged) -Surety or Bail bond where the bond is furnished by a third party who (usually for a fee) pledges their own assets to cover the cost - and,Property bond where assets (e.g.: property - business - vehicle - anything of value which can be converted to cash) is liened by the court for the defendant's release.
Is the person who hires a bail bondsman responsible for the whole bail amount if the defendant fails their obligation?
When a Bail Bond Company writes a bond, they are responsible for the bond amount if the defendant fails to appear. The indemnitor (person who gives collateral for the bond) is responsible to the extent that they will lose whatever they gave the bondsman for collateral if the bond is forfeited. That is why bond agencies try to find the defendant and bring him to jail before the bond forfeiture hearing, so they do not have to pay the courts the amount of the bond. Bond companies pay the courts in CASH regardless of what type of collateral was used for the bond.
What is the type of bail where the defendant deposits a percentage of the bail amount?
It is called a corporate surety bail bond. A licensed bail bond company enters into an agreement with the defendant and the court. The defendant pays the bail bond company a fee, usually 10--15% of the bond amount set by the court. The bail bond company agrees to pay the court the amount of the bond if the defendant fails to appear for trial at any point that he is out on bail. The bail bond company does not actually provide the bond amount unless the defendant fails to appear.Sometimes the court will require that a defendant obtain a corporate surety bail bond even if he has the assets to put up for bail. This is usually done when the defendant has access to a considerable amount of assets, say proceeds from an illegal activity, and the court wants a third party to guarantee the defendant's appearance. Bail bond companies don't like to pay bonds when their clients "skip" trial, and will pursue the defendant relentlessly. For that reason, some judges will order a defendant held pending establishment of a corporate surety bond.Also, most bail bond companies don't actually have the funds on hand. They are financed by finance companies who specialize in providing such bonds. If the defendant fails to appear and is declared a fugitive, the financing company is the one who actually provides the funds. However, the bail bond company is still obligated to the financing company. If the amount of bond is high, most bail bondsmen will require the defendant, or someone willing to assist the defendant, to put up an asset as collateral. This quite often is real estate, in which case the defendant mortgages his property to the bail bondsman.In some jurisdiction, the court will allow the defendant to pay to the court the usual percentage in lieu of obtaining a bond. So, if the court sets the bond amount at, say, $10,000, the defendant can pay the court $1000 cash in lieu of obtaining the bond. In most cases, the defendant receives a refund of the cash amount once his case has been adjudicated. This usually only happens when the risk-of-flight of the defendant is considered minimal.
Does a bail bondsman pay the entire bond amount?
No, a bail bondsman typically charges a fee, usually around 10-15% of the total bond amount, to post bail on behalf of the defendant. The defendant or their co-signer is responsible for paying this fee, not the full bond amount.
What is the difference between the judge giving a surety bond or cash surety?
A surety bond can be supplied by a bailbondsman who only puts up a percentage of the amount of money needed, but is liable for the whole amount if the defendant absconds. Cash surety is the ENTIRE amount of the bond must be posted, not just a percentage of it, as in the previous example.
What does th XC stand for on a 5500XC bond?
XC is a designation of a split bond used by the Marion County Indiana Superior Courts. The XC designation means the bond is composed of a cash bond and a surety bond. The cash bond component may be posted by anyone in the entire cash bond amount ordered by the court. The surety bond is posted by a commercial bail bondsman. The bail bondsman charges 10% of the surety bond amount set by the court. All or a portion of the cash bond deposit can be refunded by the court. By law, the amount paid to the bail bondsman may not be refunded. In this instance of a $5500 XC bond, the cash bond is $500 dollars and the surety bond is $5000. The total paid to post the bond would be $1000: $500 cash and $500 dollars to a commercial bail bondsman.
What is a collateral bail bond?
Collateral sometimes has to be put up for a bail bond in order to get the defendant out of jail. For instance, assuming the bail is set at $10,000, 10% of the total, the premium, has to be paid upfront in cash, which is not returnable; the remaining $9,000 would need to be presented to the bail bondsman in the form of collateral to ensure that if the defendant jumped bail, the bail bondsman would be guaranteed his money.TypesFunctionCollateral would be accepted in the form of a credit card payment, vehicle titles, assets on paper, mortgage deeds or cars and other vehicles. The bail bondsman will hold all titles or charge the credit card, holding the cash until the defendant shows up in court. All collateral is returned once the defendant makes an appearance. IdentificationCollateral is required for some crimes or repeat offenders who may be a flight-risk and may not show up to court. Friends or family who are willing to place their valuables or homes as security will surrender titles to the bail bondsman as collateral. All collateral is returned providing the defendant goes to court on the dates specified and doesn't skip or jump bail. Time FrameThe person putting up bond for the defendant is called the indemnitor. If the defendant chooses to skip or jump bail, she will lose the collateral she put up; she will, however, have time to produce the cash in return for the collateral items. WarningShould the defendant miss his scheduled court appearances, there is a 120-day waiting period to allow the defendant or his attorney to set another court date for the hearing. If that time period should lapse without a court date being set, all collateral would be forfeited by the indemnitor.Before the indemnitor signs any contracts or hands over any notes, cash or titles on the defendant's behalf, a thorough explanation is given by the bail bondsman as to how the collateral will be used and about the time constraints within the contract in order that she will fully understand what she is signing.
What is the role of a bail bondsman?
A bail bondsman is responsible for posting bail on behalf of an individual who has been arrested. They charge a non-refundable fee to provide the financial guarantee to the court that the individual will appear for their scheduled court dates. If the individual fails to appear, the bail bondsman may be required to pay the remaining bail amount.
What is an XC Bond?
A XC bond is a type of split bond employed by the Marion County Indiana Superior Courts. The XC bond is a hybrid composed of two distinct bail bond types: surety and cash. The surety portion of the XC bond is posted by a bail bondsman. The bondsman charges 10% of the amount of the surety bond set by the court. The cash bond portion of the XC bond may be posted by anyone in tandem with the surety bond portion. The cash bond is the entire amount as set by the court. Both portions of the XC bond must be posted together at the same time and location. Even if the defendant attends all court appearances, The Marion County Superior courts may retain all or a part of the cash bond for costs and/or fees related to the case. Any remaining part of the cash bond deposit is then refunded. The premium paid to the bail bondsman, by law, may not refunded.
