Bail Bond
Definition of 'Bail Bond'A written promise signed by a defendant and surety to ensure that a criminal defendant will appear in court at the scheduled time and date, as ordered by the court. The bail amount is set by the court.The process starts with a defendant being released on bail; the bail is paid by a surety (bail bond agent or bondsman), who usually collects a percentage of the amount of bail. In order to pay the bail, so that the defendant can be released while awaiting trial on criminal charges, the agent might require collateral in the form of valuable property, securities or a statement of creditworthiness. |
|
Investopedia explains 'Bail Bond'Bonds over $1,000 usually cost 10% of the bond. For example, if bail is set at $20,000, the premium would be $2,000. Additional fees may also be added. The goal of a bail bond is to prevent abuse of the appeal process, where the intent for appeal is for a reason other than that for which it is intended. If the defendant fails to appear in court, the cash bond is paid to the court and the collateral is collected by the bond agency, including any other related fees. |
Related Definitions
Articles Of Interest
-
Outfox The Debt Collector's Hounds
Dealing with a collection agency is scary if you don't know your rights. We help you take back the power. -
How To Pick The Right Lawyer
Find out what factors to consider before hiring an attorney. -
Tax Court: Your Last Resort
Appealing an unfavorable or unfair tax ruling may be your last chance to save your finances. -
Understanding The Escrow Process
Learn the 10 steps that lead up to closing the deal on your new home and taking possession. -
What's the difference between a bank guarantee and a letter of credit?
A bank guarantee and a letter of credit are similar in many ways but they're two different things. Letters of credit ensure that a transaction proceeds as planned, while bank guarantees reduce ... -
How To Safeguard Your Tax Returns From Identity Theft
Identity thieves love tax season. In 2012, there were 13 million victims of identity theft. As easy as it is for thieves to steal your information, there are also simple measures you can take ... -
How To Report A Tax Cheat
If you report a tax evader to the IRS, you could be eligible for a reward. -
How To Identify A Micro-Cap Scam
Discover how to distinguish a real investment opportunity from a fraudulent one. -
The Underground Internet Economy Of Cybercrime
Cybercrime represents an underground economy worth $114 billion. Let's take a look at how this economy operates. -
4 Crimes By Real-Life Grinches
These crimes happen all over the country during the holiday season.
Free Annual Reports