A written promise signed by a defendant and surety to ensure that a criminal defendant will appear in court at the scheduled time and date, as ordered by the court. The bail amount is set by the court.
The process starts with a defendant being released on bail; the bail is paid by a surety (bail bond agent or bondsman), who usually collects a percentage of the amount of bail. In order to pay the bail, so that the defendant can be released while awaiting trial on criminal charges, the agent might require collateral in the form of valuable property, securities or a statement of creditworthiness.
Bonds over $1,000 usually cost 10% of the bond. For example, if bail is set at $20,000, the premium would be $2,000. Additional fees may also be added. The goal of a bail bond is to prevent abuse of the appeal process, where the intent for appeal is for a reason other than that for which it is intended. If the defendant fails to appear in court, the cash bond is paid to the court and the collateral is collected by the bond agency, including any other related fees.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
bail bond — see bond 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. bail bond n. A contract betw … Law dictionary
bail bond — ➔ bond * * * bail bond UK US noun [C] ► LAW a document stating that an amount of money has been paid to allow a person who has been accused of a crime to remain free until the trial. If the person does not appear at the trial, the court keeps the … Financial and business terms
Bail bond — (b[=a]l b[o^]nd ). (Law) (a) A bond or obligation given by a prisoner and his surety, to insure the prisoner s appearance in court, at the return of the writ. (b) Special bail in court to abide the judgment. Bouvier. [1913 Webster] … The Collaborative International Dictionary of English
bail bond — n. a surety bond (money or property) offered or deposited by a defendant or other persons to ensure the defendant s appearance at trial … English World dictionary
bail bond — noun (criminal law) money that must be forfeited by the bondsman if an accused person fails to appear in court for trial the judge set bail at $10,000 a $10,000 bond was furnished by an alderman • Syn: ↑bail, ↑bond • Derivationally related forms … Useful english dictionary
bail bond — A three party contract which involves state, accused and surety and under which surety guarantees state that accused will appear at subsequent proceedings. Accredited Surety & Cas. Co., Inc. v. State, for Use and Benefit of Hillsborough County,… … Black's law dictionary
bail bond — bond given to release a person from jail until his trial … English contemporary dictionary
bail bond — A bond given as security for the purpose of obtaining release of a person in custody. See bail … Ballentine's law dictionary
bail bond — Synonyms and related words: accident insurance, actuary, annuity, assurance, aviation insurance, bond, business life insurance, casualty insurance, certificate of insurance, court bond, credit insurance, credit life insurance, deductible,… … Moby Thesaurus
bail bond — noun a surety, used to obtain the release of a criminal defendant who has been required to give bail See Also: bail bondsman … Wiktionary