Difference Between Bail Vs Bond? Everything You Should Know
You must have heard the terms bail vs bond multiple times in your life. Bail is the payment given to the authorities as compensation for getting arrested. On the other hand, a bond is signed to hold up to the agreement of the bail, as a form of promise.
Many people get confused between these two since they are related to each other. So, if you want to learn the differences between bail and a bond, then continue reading this article. You will also learn about how they work and how to make payments for them.
What Is Bail?
If you get arrested, you will be taken into custody by the police, who will detain you until further notice. However, if your charges are not threatening, then you might be allowed to leave custody. You will then need to pay a certain amount of money, called bail.
Whether you will get bail or not depends on the judge and the nature of the crime for which you were arrested. After you get arrested, the judge will act upon the severity of your charges. If you get deemed as not threatful to society, you might be granted bail.
If you get bail, you have to pay a certain amount of money as compensation. However, this does not mean that you are let go of all your crime. The judge can decide to grant bail only on the condition that you will appear in court on a later date.
Before bail gets granted to you, you will need to make sure that you fulfill all the clauses and requirements. This will include your signature, along with some of your documents as paperwork.
What Is Bond?
What is a bond in court? A bond in jail is an agreement that gets signed after you get bail from the court. Here, a different person agrees to sign the paper on behalf of the promise you made to abide by the laws and rules of the bail.
This third-party person ensures that you will appear in court on the date of the hearing if you get called by the judge. He or she acts as your guarantor until you appear in court. If you do not, your benefactor will get charged instead of you because of the signed bond.
Types Of Bonds
There are four types of bonds, which which are:
1. Insurance Company Bond
In this type of recognizable bond, your third-party guarantor will be an insurance company. The company will pay the bail on your behalf and sign your bonds on the promise that you will return the money back to them, with interest. You will also need to pay a starting amount as collateral to the insurance company before they agree to sign the bond.
2. Surety Bond
A cash surety bond is signed by a friend or your family member to make sure that you attend the court when you are called for. In this process, your friend or family members pay the full amount of the bail to the court. If you do appear in court, they will get back the money they have paid for you.
So what is a cash bond? There are three types of surety bonds:
- Secured Bond: A secured bond refers to a bond where your guarantor has paid the full amount of the bail to the court.
- Partially Secured Bond: This refers to a bond where your guarantor has paid only half the amount of the bond. However, they have agreed to pay the remaining amount at a later date.
- Unsecured Bond: What is an unsecured bond? Here, your guarantor doesn’t pay any money to the court. Instead, they sign paperwork where they agree to pay the whole amount at a later date.
3. Appearance Bond
An appearance bond refers to a bond where the accused person pays the whole amount of the bail. Here, no guarantor gets involved and is typically applied when the accused has no family or friends who are willing to become their guarantor. Just like secure bonds, its three types also apply in this case too.
Mode Of Payment
When the time to pay for the bail comes into question, then depending on the court order decided by the judge, the bond gets signed. Here, depending on who is paying for the bail, the bond gets made in that regard.
The bonds will be different for both situations – whether the defendant pays for the bond or a benefactor on behalf of them. However, you cannot self attest to a document.
When it comes to the mode of payment the bond gets signed when the amount of the bail is signed. The bail money is always paid in cash if no bail agent or any insurance agency gets involved. Here, the defendants themselves pay the full amount of the bail, in cash.
If any insurance agency gets involved in the process, then the insurance agency pays the bail amount on the defendant’s behalf. If a bondsman is hired to solve the process, then 10% of the amount is paid. This money can be paid either in cash or using a credit card.
Bail vs Bond – What’s The Difference?
Coming to the main question, what is the difference between bail vs bond?
The main difference between bail and bond is that the bond is the written agreement that is signed by the defendant or their benefactor. On the other hand, bail is the amount of money that is paid to the court for letting you go out of custody.
After the defendant is granted bail, they can sign the bond and pay the amount of the bail. In addition, they can get a benefactor – a friend or a family member – to sign the bond and pay the bail on their behalf.
Frequently Asked Questions (FAQs)
On the occasion you are taken into police authority and offered the valuable chance to post bail vs bond in the middle of your custody and forthcoming trials, having the option to pay the bail yourself in real money would address the signing of the bond.
Be that as it may, assuming you find yourself incapable to pay the bail in real money, there are other lawful choices to assist with getting you out of prison until your impending trial, explicitly through the use of bonds.
On the off chance that you have more inquiries, read our other articles too!