What is the Difference Between a Bail Bond and a Surety Bond?
Difference Between a Bail Bond and a Surety Bond
If someone you know gets arrested for a crime, they’ll likely need to post bail in order to be released from jail. This allows them to get back to work and their family while they await their trial. However, it can be costly and challenging for people who are not wealthy to raise enough cash for bail. This is where a bail bondsman comes in to help. They can post a surety bond for an accused person that guarantees their appearance in court until the case is resolved. In order to do this, the surety bond must be backed by assets, like property.
There are several different types of bail bonds in San Diego, including cash bonds and surety bonds. A cash bond involves putting up the full amount of the bail in cash to guarantee that you will appear in court. If you do not, the court will keep your cash and will issue a warrant for your arrest.
A surety bond, on the other hand, involves three parties instead of two. Typically, the accused person, the bail bondsman, and a third party (the obligee) are involved in a surety bond. The bond agent is paid a non-refundable premium, which is around 10% of the total bond amount. This premium is paid to a licensed bail bonds in San Diego who will then pay the accused person’s entire bail amount for them.
What is the Difference Between a Bail Bond and a Surety Bond?
This type of bond is often chosen because it can be less expensive than a cash bond. It is also more convenient than posting a cash bond because it does not require the person to physically come to the court. The co-signer of the bond, who is usually a relative or friend, signs a contract with the bail bondsman saying that they will pay the full amount of the bail if the accused fails to appear in court as scheduled.
The obligee, which is the court or other agency that requests a bond, will ask questions to determine if the person can afford the bond. They will want to know how much money they have available, what their employment status is, and whether or not they own any property that could be used as collateral for the bond. They will also want to make sure that the person is not a flight risk or a danger to the community.
Unless the accused has significant income, they are likely to be unable to afford a cash bond. This is when a surety bond becomes an option. A surety bond is a safer and more affordable alternative to a cash bond, but it also requires a lot of time and energy to obtain. It is important for both friends and family members of the accused to understand how a surety bond works so they can step in to help them obtain a bail bond as quickly as possible. If you are looking for a reliable, reputable bail bondsman in San Diego, call us today!