The answer isn’t as simple as you may think. In order to answer this question we must first understand the different types of bail bonds.
What is a cash bond?
A Cash Bond is a type of bond that must be paid in full to the court for the defendant to be released from jail.
For example, El Reno Bail Bonds cannot post bail for a defendant arrested in the city for municipal crimes. That is because El Reno municipal court does not accept other forms of bonds. If you are unable to pay the cash Bond in full then you must wait in jail until you see a judge. Then, the defendant may be released with a payment plan, sentenced to community service, or ordered to ‘sit out’ their fines with a credit per day.
Cash bonds posted to municipal courts are typically forfeited automatically and used to pay fines and court costs.
What is a property bond?
A Property bond is a form of collateral. This consists of a property owner pledging ownership of their real estate to the to guarantee the defendant appearance in court. Additionally, there are other fees involved with a property bond such as court costs and filing fees. This type of bond is uncommon and is typically only seen in rare cases where a person’s bail is set at $50,000 or higher.
If the Defendant fails to appear in court they will have forfeited their property. There are some exceptions to the property bond as governed by Oklahoma state law. The property can be held as collateral to ensure that the defendant has met his obligations to the court under certain conditions. This varies by state, however.
It is always best practice to consult with an attorney or bail bondsman before pledging any property or real estate to the court. You should know exactly what you are doing, and all the risks involved.
What is a Surety Bond?
A Surety bond is the type of bond used when hiring a professional such a Canadian County Bail Bonds company. This is the most common type of bond for a number of reasons that I will explain here.
The benefits to using a bail bonds company are the reason it is the method of bail that most people choose. For example, the cost of a surety bond is typically only 10% of the bond. Some companies charge only 5% down and will finance the rest of the premium with qualifying cosigners.
After hiring a professional bail agent, they will post the surety bond with the court. The licensed agent has funds in accounts that are pledged to the court in the event of a bond forfeiture, or if the defendant fails to appear in court.
It is important to note that any cosigners on the bond are also obligated to pay the full amount, or any incurred cost resulting from a bond forfeiture.
While premium paid to a bond company is non-refundable, any collateral used cannot be seized by the court to cover additional expenses. As a trusted and licensed agent, the bondsman is given ample time to rectify any forfeiture situation before the total bail has to be paid and they even have the authority to hunt down the fleeing fugitive and return them to court.
This is yet another benefit of using a bonds man as they are experts at solving failure to appear problems which saves the defendant’s cosigner lots of money and headache in the long run.
A Surety bond or property bond becomes exonerated when the defendant enters a plea or if the case is dismissed. This means that the bondsman and obligor are no longer responsible for the defendant.
What is a own recognizance bond, or O.R. bond?
An O.R. bond is a type of bond that courts use when releasing a defendant without the requirement os some form of collateral or surety. This means that a defendant is released solely on their signature or promise to appear in court.
A dollar value is commonly set with an O.R. Bond which defines the financial liability to the court should the defendant fail to appear and not return to court.
O.R. Bonds, while their use does carry by jurisdiction, is typically only used for defendants who have serious medical issues or are first-time offenders with no history of non-violent crimes.
As you may guess, there is a substantially high rate of defendants who fail to appear in court after being released on O.R. bonds, despite the country’s effort to push criminal justice reform and release all non-violent offenders on their own recognizance.