Difference Between Bail And Bond
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If you follow up on the news every day, you probably hear about someone commits a crime. Then they are arrested and get released on some bail or on some bond.Although it is not uncommon for most people to assume that “Bail” and “Bond” is the same thing, the two terms differ by their legal definitions.
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Bail is the money that you pay the court to guarantee that you will show up at the hearing. If you do not show up, the court confiscates your money. Then a warrant will be issued for your arrest. The amount of bail that the court set depends on various factors. For instance, if you can prove to the court that you are not a flight risk, you may be eligible for low bail. To do that, you need to put a packet of documents to show the court that you have a long term ties to the community. You are not unlikely to run away. If you have enough money to pay your bail, then it is your best option. Because, you will get it 100% back.
On the other hands, if you don’t have enough money to pay your bail like most people, you can get a Bond (also known as Bail Bond). Basically, a bond is like bail, but you need put up collateral like a car, house, or land instead of money. Most Bail Bond companies also require that you pay 10% in cash. Unlike Bail, you don’t get the money back, even if you show up at the hearing.
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