What is the Purpose of a Bond?

What is the Purpose of a Bond?

A Guard Leads a Prisoner to His Cell.

What are bond services?

In most cases, when someone has been arrested and jailed, the court will set a bail amount for their release. The amounts will vary depending on the offense. Bond services help people get out of jail by paying a percentage of the bail, known as a bond, and ensuring the court the person will return for all set court dates. 

The defendant and the bond service are responsible for ensuring the court dates are met. Normally, a family member or friend of the person in jail will have to go to the bond service,and pay a fee for the bond service to pay for the bond. 

If you or a family member has been jailed, and you need bond services in Jefferson, GA, count on the professionals at Double "O" Bonding to get you help quickly. We help you through the whole process. All you need to do is call 706-353-6467

What is the purpose of a bond?

A bond is used to get a person out of jail after they’ve been arrested for a criminal offense. It is a percentage of the bail amount that was set by the court for the defendant’s release. This amount is usually about 10%, although some states have capped this amount at lower percentage rates. A bond service charges the defendant or family members this fee to pay the bond amount for the release of their loved one. When the bond is paid, it is also a promise to the court that the defendant will show up for all scheduled court dates. If the defendant fails to show up, the court usually issues a warrant for the defendant’s arrest.  

What does surety bond mean?

Posting bail can be done in one of three ways, either by paying the full amount in cash, or by property bond, in which the court places a lien on a piece of property as a form of payment, or a surety bond, which is the most common option. Surety bonds are the type of bonds provided by bond services and normally pay about 10% of the bail amount to get the defendant released on the promise the defendant returns for all court dates. Surety bonds for bail involve three parties, in this case the bond service, the court, and the defendant. The defendant or family members who enlisted the bond services are responsible for paying the bond services the fee. Some services allow you to make installment payments, if you are unable to pay the amount in full. The bond services bond application covers the surety bond.

How does bond insurance work? 

Bond services sign written agreements with courts to pay the full amount of bail if the defendant fails to make a court appearance. Because bail amounts are usually fairly high, bond agents usually need some form of insurance to ensure the bail is paid. Bond insurance helps bond services pay the full amount of a bond when the defendant fails to appear in court. With this insurance, an insurance company will guarantee scheduled payments on interest and principal on a bond in case of defaulted payment.

Here is how they work:

  • The insurance company is paid a premium by the person issuing the bond, either in a lump sum or in installments.
  • If there is a default on the payment of the bond, the insurance company pays the claim.
  • This protects the bond services business and personal assets.

What are bond indenture services

The bond indenture is basically a formal agreement between the bond issuer and the bond purchaser. The agreement will contain the interest rate, the dates the interest will be paid, the maturity dates, along with any other terms and conditions agreed upon. In many cases, bond services will require collateral, which could range from mortgages to car titles to any form of valuable property such as jewelry.

How much does a $100,000 bond cost?

If your bail is $100,000, typically the fee for bond services is 10% of the bail, so you would pay the bond agent $10,000 to be released from jail. Defendants or their family members usually have to put up collateral to pay this fee. If you pay the full cash amount on the bail instead of using a bail bondsman, you will receive the bail amount in full after the trial. On the other hand, if bond services are used and $10,000 was paid on a $100,000 bail, the bond services get to keep the $10,000.

A Man in Hand Cuffs.

Bond services near me

When you or someone you love has been arrested and jailed, and you are looking for bond services in Jefferson, GA, you can depend on Double "O" Bonding for the most reliable service around. We will guide you through the whole process to ensure timely release from jail. For our bond services contact us by phone at 706-353-6467.