In the legal system, a bond is issued by a bail company for someone that has been accused of a crime and arrested. The bond is designed to guarantee that the accused will be at all court proceedings they are supposed to attend. It is called a surety bond because it is supposed to safeguard the investment of the bail company in the event that the accused does not show.
How Much is a Surety Bond?
Depending on the state, most bail bond companies charge 10% of the amount of the bail that was set by the court. They generally also ask for the accused to put up something of value as collateral for the remaining amount of the bail. This may be a car, boat, RV, or something else of value. This aids in protecting the bondsman from losing the money they put up to secure the release of the accused.
Benefits of a Surety Bond
Rather than someone that is accused of a crime spending a number of days or even weeks in jail, a surety bond will allow them to go home in a few hours. They probably have a job that they could lose if they end up spending very long in jail. They need the income to support their family. In addition, they may have to hire a lawyer to defend them against the crime they have been accused of committing. This is why services such as Twin Cities Bail Bonds offers a surety bond hennepin county .
After being released from jail, they can also obtain the proof they might need to show that they were innocent of the charges. For example, if they were accused of committing a crime at a certain time, there may be proof that they were not in the vicinity of the place where the crime occurred at that time. A toll receipt or if they stopped and purchased gasoline with a credit card can be considered proof of their whereabouts at the time of the crime.
A surety bond is more affordable than trying to come up with enough money to pay bail. Without the entire bail amount, they would face being incarcerated until their court date.