A bail bond is a method that is commonly used for obtaining the release of defendants. The defendant is usually in the custody of law enforcers waiting for the day of their trial. The process involves signing of a legal document by the defendant, their family members, bail bond agent, or friends. The document states that if the defendant fails to appear before the court for the trial, the specified amount will be forfeited. When in need of the best agents in bail bonds Richmond VA is the place to visit.
People who offer to pay monies needed to release defendants from custody of law enforcement are called bail bond agents. Services of these agents are hired when the crime defendants are being charged with are big, hence attracting huge amounts for their release. Defendants are paid back the total amount they pay down plus 10-20 percent of that amount as charges for services rendered.
Once an agent starts working for the defendant, they assume all liability to pay the amount required. The defendant can now be referred to as a client to the agent. However, since the amount involved can be very high in certain circumstances, it becomes important that the client gives up collateral. Collateral guarantees that the client will honor the agreement and refund the agent the amount paid to the court.
There are many forms of collateral one can give. Major ones include jewelry, securities, title deeds, and written guaranties from friends and family members who are credit-worthy. The collateral covers any losses that may arise in the course of doing business. If the item given up as collateral is sellable, the agent sells it to get their money back. Guaranties are taken to court to make people who signed them honor their end of the deal and pay up.
Agents do not accept all clients, they weight the risks involved. Certain factors such as criminal records, employment, and location of residence are among what agents consider. Clients are classified into good risks and bad risks. Clients considered to be good risks are those with good records of employment and crime and have also resided in the location for long.
When the agent agrees to offer services to a defendant, they go to court and post the bond. The court cannot be any other, other than the one in which trial is meant to happen. The nature and degree of the crime one is being charged with determines the amount to be paid. The amount is higher in bigger crimes than in small ones.
The court clerk issues a ticket when the bond is received. Law enforcement officers are sent the ticket, notifying them of fulfillment of bail requirements. The defendant gets released immediately afterward.
When the trial happens and the defendant appears in court, the liability under bail is terminated. Besides this circumstance, another situation under which liability is terminated is if the terms expressed in the agreement cannot be executed. This is possible only if a defendant is imprisoned, arrested, dead, or detained. This may happen in the same jurisdiction or in a different one.
People who offer to pay monies needed to release defendants from custody of law enforcement are called bail bond agents. Services of these agents are hired when the crime defendants are being charged with are big, hence attracting huge amounts for their release. Defendants are paid back the total amount they pay down plus 10-20 percent of that amount as charges for services rendered.
Once an agent starts working for the defendant, they assume all liability to pay the amount required. The defendant can now be referred to as a client to the agent. However, since the amount involved can be very high in certain circumstances, it becomes important that the client gives up collateral. Collateral guarantees that the client will honor the agreement and refund the agent the amount paid to the court.
There are many forms of collateral one can give. Major ones include jewelry, securities, title deeds, and written guaranties from friends and family members who are credit-worthy. The collateral covers any losses that may arise in the course of doing business. If the item given up as collateral is sellable, the agent sells it to get their money back. Guaranties are taken to court to make people who signed them honor their end of the deal and pay up.
Agents do not accept all clients, they weight the risks involved. Certain factors such as criminal records, employment, and location of residence are among what agents consider. Clients are classified into good risks and bad risks. Clients considered to be good risks are those with good records of employment and crime and have also resided in the location for long.
When the agent agrees to offer services to a defendant, they go to court and post the bond. The court cannot be any other, other than the one in which trial is meant to happen. The nature and degree of the crime one is being charged with determines the amount to be paid. The amount is higher in bigger crimes than in small ones.
The court clerk issues a ticket when the bond is received. Law enforcement officers are sent the ticket, notifying them of fulfillment of bail requirements. The defendant gets released immediately afterward.
When the trial happens and the defendant appears in court, the liability under bail is terminated. Besides this circumstance, another situation under which liability is terminated is if the terms expressed in the agreement cannot be executed. This is possible only if a defendant is imprisoned, arrested, dead, or detained. This may happen in the same jurisdiction or in a different one.
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