You must have heard about the word bail. In fact, every time when you switch on the news you get to hear that so and so have been released on $ 50,000 bail. But do you really know what does bail means or how it works? If not then you can find it here right in this article. If you are a resident of Tulsa then you can avail the services of Signature bail bonds in Tulsa if needed.
What is a bail bond?
Bail is a specific amount of money that acts as insurance between the person in jail/defendant and the court. Defendants can avail the option of bailing them out from jail. However, not all defendants are given this option.
Bails are often set as high amounts and that’s why many of the defendants are unable to pay it. This is where the need for a bail bond company comes into the picture. A defendant can seek the help of a bail bond company or an agent like the Signature bail bonds Tulsa in order to get themselves bailed from the jail. A bail bond company can post a bail for the defendant.
How does a bail bond?
After knowing the definition of bail, let’s learn about bail bonds. A bail bond is a kind of surety bond which is provided by the bail bond company that secures the release of the defendant from the jail. There are two types of bail bonds: Criminal bail and civil bail bond.
How do bail bonds work?
The bail amount is set by the judge. If the defendant is unable to pay the amount then he/she can seek the help of a bail bond company or an agent. In order to post a bail bond, the defendant usually has to pay at least 10% of the bail amount. After which the bail bondsman will secure the rest of the bail amount in the form of collateral. If the collateral is less in amount then a bail bondsman will seek the friends and family of the defendant to clear the rest of the bail amount.
So now you know what a bail bond is and how it works. You get several such bail bond agents and companies that can help you in your time of need. However, there may be certain terms and conditions included.