Bail bond, also known as “surety bond” in legal terminology and layman’s terms, is a type of property pledged or deposited with a court in order to persuade it to release a suspect from custody on the understanding or agreement that the suspect will return for trial or that the bail will be forfeited and the suspect may be charged with the crime if the suspect fails to appear in court. Even if the person is found guilty or not guilty of the offence charged, the bail bond may be refunded at the conclusion of the trial if all court appearances are performed. Any failure on the part of the defendant to appear in court when the bail is set will result in the bailer having to pay the whole sum of the bail. There are many qualified bail brokers who can assist an accused in this situation. Have a look at Bail Bonds.
The majority of bail bond or surety bond premiums range from 10% to 15% of the total bail amount. For example, if the total bail amount is $10,000.00, the bail bond premium or cost is $1,000.00. The surety businesses set these fees, which are controlled by the Department of Insurance.
The cost of a bail bond is established by law in, as it is in most states. Always remember that these charges are non-negotiable, and the bail bond business you choose should not have any hidden fees or taxes. The beautiful thing about this is that it simplifies things for consumers because they no longer have to call ten different bail bond firms to receive ten different rates when looking for a bail bond. Legally, the rate would be the same.
Federal Courts charge 15% of the bond amount, Immigration Courts charge 20% of the bail amount, and State Courts charge anywhere from 10% to 15% of the bond amount, depending on the state where the offence was committed.