What’s the difference between bond and bail?
When you’re arrested, you’ll be booked and formally charged with the accused crime. Then you’ll appear before the judge, this is called the arraignment, where the charges are read to you and you plead guilty or not guilty. The judge then states the bail amount it will take for you to be released from jail. There are several ways that bail can be paid, two of them are cash and surety bonds.
Bail is what the judge declares must be paid by the defendant to be released from jail until their court date. The bone is what is posted based on that bail amount declared by the judge. It is typically paid for by a bail bond agent after a 10% fee is paid by a family member or friend.
The bond company is taking responsibility for the defendant to appear for all court dates and follow the requirements as set forth by the judge. This can include alcohol and drug screening, leaving the city, state, or country, not driving other than to work or school, etc. If the defendant doesn’t appear in court as ordered, the bond agency begins searching for them along with law enforcement.
How is bond amount determined?
There are four main factors that a judge looks at when determining the amount for bond setting. Those factors are:
- The accused crime
- The defendant’s past criminal record
- The defendant’s employment status
- The defendant’s connection to the community
In Michigan by law, the only option to post bail for the bond is a 10 Percent Cash Deposit with a licensed bond agency or agent. The 10 percent is returned in full once the defendant has appeared for all court hearing and hasn’t had any other arrests. When paying a bail by cash, court costs and fees are deducted, and the remainder of the 10 percent is returned. Those costs include booking fee and processing fee.
What is cash bond and surety bond?
There are different types of bonds. For the sake of our subject here, we’re discussing a bond as a financial instrument that guarantee a suspected criminal will appear for all court hearings. That bond may be a cash bond or a surety bond, but what is the difference between those two bonds.
- A surety bond requires three party involvement. A defendant will hire a surety company to post their bail and in exchange for that service, the surety company then charges the defendant a fee, typically ten percent of the bail amount. Once the defendant has made all court appearances and met any other requirements set forth by the judge.
- A cash bail bond is where either the defendant, a family member or friend pays the full amount of the bail directly to the courts. When all court dates have been met along with any other requirements, the defendant, or the person that posted the bail, will have the full amount returned after all court costs and fees are deducted.
What does surety bond mean in jail and How does a surety bond work?
A surety bond is provided by a bondsman under an agreement between either the defendant or the person requesting the bondsman’s service. With the agreement signed and dated, the bondsman will go to court and post the required by the judge. Then the defendant is released from jail. A person getting a surety bond must prove they have the cash or collateral equal to the amount of the bond should the defendant not show up for their court dates.
What is a cash bond to get out of jail and what does cash bond mean?
A cash bond is required when the defendant can’t get a bail bonds agent to finance their bail for release from jail. The money is paid to the court and it is held until the case against the defendant is complete. The defendant, a family member, or friend can post a cash bail.
Who can issue a surety bond?
Typically, a surety bond is issued by a surety company, which is commonly obtained through a broker or surety bonding agency. Surety bonding companies are regulated by the state and must have a current license.
Are surety bonds paid monthly?
No, a surety bond is usually paid in cash at the time it is issued. There is no payment plan for a surety bond. In some states, a finance payment plan may be possible by some surety companies if the bond meets certain requirements.
The matter of being arrested and posting bail can be a confusing matter. It is recommended to have a criminal attorney hired who can walk you through the process, including posting bail. They will also be there to walk you through the process of court appearances and more. Call 844-YOU-WALK today for bail bonds help in Mt. Clemens and Troy, MI.