What’s The Difference Between A Cash Bond and Surety Bond?
What is a cash bond?
A cash bond is the easiest way to bail someone out of jail. All you need to do is pay your loved one’s bail amount in cash, and he regains his freedom. The bond court takes possession of the money and holds it until your loved one’s trial is over. If your loved one decides not to show up at his hearing, the court keeps the cash. If your loved one does show up for his court dates, you get your cash back.
A family member or a friend of the accused is welcome to pay the bail bond in cash.
What is a surety bond?
“Surety bond” is another way of saying “loan.” In this case, you want to pay a bail bond, so you make a contract with a bail bondsman. The bail bondsman contacts a surety company for you so that he can arrange to have a surety bond posted for your loved one. With this option, you pay the bail bondsman a fee for his services. This is the “premium,” and is nonrefundable. In most cases, the amount of the premium is equal to 10 percent of your loved one’s bail amount.
If you need to bail your loved one out of jail, call us at Big Mike’s Bail Bonds today.