Bail Bonds: A Sign of Trust Required

Bail bonds involve a certain degree of trust. The trust involved on the part of the defendant, the person expected to provide the collateral to the bail bonds agency, and the bond agent.

An individual is arrested, booked and jailed, and until they are proven guilty or innocent of the crime, a judge will decide if bail is appropriate in their case. If bail is deemed acceptable, an amount will be set by the court that will allow the defendant to be released from jail until their trial begins, and once that bail is posted the prisoner is free to go with instructions not to leave the state.

The bail bonds system was established in 13th century England as a means to buy a defendant’s freedom from prison: today’s bail bonds program is a way to balance the difference between the rich and poor classes, allowing freedom to ALL people until their trial begins, not just the wealthy. The bail rate of 10% is set and monitored by the Department of Insurance, but some agencies can legally charge 8% instead of the usual 10% of the bond, plus $10-$15.00 depending on the company. Should an Agency offer a discount they risk the loss of their license.

Several states, and a few cities, do not allow private bail bonds in exchange for release from jail:

-Massachusetts

-Maine

-Oregon

-Illinois

-Kentucky

-Nebraska

-Wisconsin

-Philadelphia

-Washington, D.C.

If an individual is arrested in one of these locations, the full bail will need to be posted in order for the prisoner to be released, but if no one can afford to post the full amount, a 3 (or more) person signature bond can be accepted by the court. Otherwise, the defendant will remain in custody until their trial begins.

If a bail bonds agency does post bail, they will require an equal in value form of collateral be put up as insurance the defendant will appear in court. Acceptable forms of collateral are:

-Real estate

-Cars

-Credit cards

-Stocks and bonds

-Jewelry

-Personal credit and a bank account

Should the defendant skip out of town while on release, the bond agent has the right to sell the collateral to recoup their financial loss. The person who posted it is out the value of that property.

To agree to assist in arranging bail bonds for a friend or family member is a serious financial commitment to make. Some may even see it as a gamble. The loss of a significant financial asset could occur if the person being bailed out chooses to cross a state line without permission from the court and bondman, if the court date is missed or another arrest is made prior to their court appearance. Be certain about the level of trust awarded to this person prior to surrendering anything of value that might cause a drain on the personal finances at home.

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