There are several things to expect when you use bail bonds. This article will discuss Collateral, Fees, Forfeiture, and Exoneration. These are all essential aspects to know before using bail services like Mercer County bail bonds, for instance. Also, it is essential to know if the agency you choose will be liable if the defendant is not returned to court.

Collateral is a Refundable Deposit

There are two ways to post bail, a cash bond, and a surety bond. Cash bonds are easier to post because they don’t require transferring ownership of anything. Surety bonds require that the defendant have money in a bank account that can cover the bond amount. This money is called collateral and is paid directly to the bail bond company by the defendant or someone they know.

When posting bail, a bail agent may accept a refundable deposit or an item of value as collateral. As long as the value of the collateral is proportional to the total bail amount, the agency is not at risk of losing money. A bail bond company may also require collateral as a surety (a person who guarantees a defendant will appear in court).

Fees for Bail Bonds

Bail bond agents have several different fees that may apply to your case. These fees are generally non-refundable and represent a part of the bail amount the bondsman will receive. Typically, they charge 10 to 20 percent of the bail amount. Again, the premium is non-refundable, so shopping for the lowest premium is essential.

A bondsman may charge an additional fee for every failure to appear at a court date. In such instances, you may be subject to a capias or warrant for arrest. In addition, some bondsmen will also include an “FTA Fee” in their agreement. These fees are intended to cover additional costs that the bondsman incurs due to your failure to appear.

Exoneration

Exoneration when using bail bonds is a great benefit, especially if you can avoid paying legal expenses. The defendant will be released as soon as their bail has been cleared. Once they have signed the release form, their guarantors can pick them up. If a conviction is returned, the defendant’s bail will be refunded, but if a guilty plea is entered at arraignment, there is still a chance for the prosecution to contest the petition.

Exoneration is a good outcome for both parties involved. In most cases, the defendant will be acquitted when they appear in court. Ultimately, the judge will order exoneration when the defendant appears in court. As a result, the guarantor will receive their money back, but the bail bondsman will not be able to collect the balance of the bond.

Forfeiture

When using bail bonds, it is crucial to understand the risks of forfeiture. If the defendant fails to appear in court on his scheduled date, his bond can be forfeited. This could lead to a criminal record and extra jail time. In addition, forfeiture can be costly to the surety’s insurance provider. In such cases, it may be best to avoid bail bonds altogether. Here are some ways that a defendant can avoid forfeiture.

In most cases, bail forfeiture can lead to the revocation of the defendant’s bond. In addition, it may prevent the defendant from being eligible for expungement. It may also affect the ability to secure a reduction in the conviction, also known as a 402 reduction. If you find yourself in this situation, research the rules and regulations in your state.