3 Different Types Of Bond You May Be Asked To Post

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3 Different Types Of Bond You May Be Asked To Post

28 June 2019
 Categories: Business, Blog

When it comes to getting out of jail on bond, it is not as simple as just posting bail. You need to understand the type of bond you are being asked to post. There are different types of bail bonds, the most common types will be explained below.

Bond Type #1: Cash

A cash bond is one of the most common types of bonds that you are asked to give by the court. With a cash bond, the courts want you to hand over a specific amount of money. It doesn't have to be physical cash; they will take credit cards or cashier's checks as well. However, some places will only take a cash bond. Cash bonds allow one to get out of jail fast; however, they require you to have access to a lot of money in the bank. When people are asked to post cash bonds, they often work with bail bond companies that only require them to put up a portion of the bond amount and they cover the rest of the bond for you.

Bond Type #2: Surety

If you are not able to pay a cash bond on your own, and you need the help of a bail bond company, what you are paying is a surety bond. With a surety bond, you are only putting up 10% of the bond amount that the courts have asked for. The bond company that you work with will provide the rest. However, the bond company may ask you for collateral to back up the money they loaned you if the person you are bailing out doesn't show up to court and meet the requirements set by the court.

Bond Type #3: Property

The third primary type of bond is a property bond. Not all states accept property bonds, so you have to check and see if this is even an option in your state. With a property bond, you give the state the ability to take away property from you if the defendant doesn't show up for court.

For example, you can give the court the title to your vehicle or the title to your home. Any type of property that has value can work, from a motorcycle to a boat. As long as the property has a set value. With this type of bond, usually the value of the property will have to be assessed, they are not going to just take your word for it. This process can take a few weeks, which means it will take a while for whomever you are trying to get out of jail to secure their freedom.