Bail Bonds Varieties: Cash Bonds, Surety Bonds, and Property Bonds
Friend or family member been arrested?
Need information on how bail works or how to pay for bail bonds?
Luckily for you, 1-800-BAIL-BOND has been in the Los Angeles bail bonds business for over a decade, so we can assist you with any questions.
This week, we will explain the difference between the various types of bail bonds that exist, namely cash bonds, surety bonds, and property bonds.
Cash Bonds
The most basic of the three, cash bonds do not require a bail bondsman at all. Instead, they are negotiated through the court.
After an arrest, the defendant goes through a booking process which includes appearing before a judge, who sets the bail cost. If the person doing the bailing has the full amount in cash, that person can forgo using a bail bonds business and pay the entire cash bond to the court.
The advantage of using a cash bond is that the bailer will be compensated the whole amount at the conclusion of the trial, regardless of the verdict.
The downside is that the bail is usually quite high and court cases can drag along. The average person cannot afford to have that much money tied up for so long. This is where surety bonds play a huge role.
What are Surety Bonds?
Surety bonds are posted by a reputable, licensed bail bonds agent, who provides the cash in exchange for a 10% fee, which is non-refundable. Why would bail bonds businesses pay 90% of the cash bond?
Because they are assured a return of the full amount at the conclusion of the trial, as long as the defendant attends all court dates. So the 10% is pure profit.The disadvantage versus a cash bond is that surety bonds require you to pay 10%, whereas cash bonds end up being free.
Conversely, the easy thing about surety bonds is that your money is not tied up in the bail cost, waiting for the trial. This allows you to have extra funds for a defense attorney and other court costs.
Property Bonds
Property bonds are similar to cash bonds, but are more seldom used. Rather than pay the court the entire amount in cash, they will allow for some property to be used as collateral for release.
Should the arrestee fail to appear before the judge or flees the state, the court may foreclose on the property to obtain the full cost of bail.
Los Angeles Bail Bonds Business
Like we said, 1-800-BAIL-BOND is a reputable Los Angeles bail bonds business that has been operating for years. If you have any further questions or would like to request our services, call us at 1-800-224-5266 or contact us.
Check out our Bail Bonds Blog for more info on the biz, along with celebrity arrest stories like Lindsay Lohan.