When a person is arrested for a crime and booked into jail, they have to go before a judge who then decides the terms and conditions of their bail order. Under certain circumstances, bail may be denied if the person is considered a threat to the society. If the convicted person can be released from jail, a bail order has to be granted by a judge. A bail bond is a legal contract between the accused, the bondsman and the court, which allows the arrested person to be released on bail provided they show up for all court dates. The type of bail depends on the scope of the offense, the total value of bail, and the client’s current financial information. The following are three major types of jail bail bonds in Norman OK.
Surety Bonds
Surety bonds are the most common method of posting bail. These types of bonds can only be given out by an approved bail bonds agency, such as Ken Boyer Bail Bonds. A surety bond is posted after a co-signer has discussed and come into an agreement with the bail bond company. The agreement requires the co-signer to pay an initial fee or even secure the amount through collateral. By doing so, the co-signer promises that the defendant will appear for all the court hearings.
Cash Bond
It is the simplest type of bail bond. It allows someone to pay the entire bail amount with cash. A cash bond is the most straightforward way of getting a person out of jail quickly; however, the money used to pay the bail will remain tied up until the court date.
Property Bond
If the defendant does not have enough liquidity to pay for a bail bond, one way they can get money is through a property bond. The equity of property used to secure the bail bond needs to be 150 percent of the bail amount. If the defendant does not appear in court, the collateral will be surrendered. To know more, click here.