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What is a Bond

Bonds guarantee payment of a precise number (on a specific date) is given from one party to another. Plainly put, a bond is a commitment that ensures payment of an amount of money. 

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Two kinds of Bail Bonds are Criminal Bail Bonds and Civil Bail Bonds.

Bail Bonds are a class of Surety Bond from a surety bond firm (like us) through an authorized Bail Bondsman or Bail agency that acquires the freedom of a defendant from jail.

Generally speaking, judges take into reckoning a wide variety of circumstances when concluding bail rates and can change from jurisdiction. States typically put a limit on how much interest can be charged with the usual rate being 10%.

How Bail Bonds Work

What is a bail bond?

A bail bond is a payment that enables someone who is detained to be discharged from jail.

The capital works as a guarantee to the government that they will present to all of their mandatory court dates. It also incentivizes the person to show up thereby getting their money back. The entire sum must be paid in order for the defendant to be released from jail.

1. Choose a Licensed Bail Bondsman in Lake County Colorado.

2. Research

How is a bail bond discovered?

You will find out whether or not you’re qualified for bail during your arraignment hearing. There are three principal reasons that you might have a high bail or be refused bail altogether.

  • You’ve committed a violent crime
  • You have a criminal record
  • You’re deemed a flight risk

What are the kinds of bail bonds in Fort Morgan, Colorado?

There are various sorts of bail bonds. They comprise:

  • Personal recognizance bonds
  • Cash bonds
  • Property bonds
  • PR bonds with co-signer
  • Surety bonds

Personal recognizance

This is commonly a consent to the court that the defendant will show up to court at the right date and time.

Cash

With this bond, the defendant must return the entire sum in cash.

Property

Rather than money, the equity in property is placed up for a bond. These have to be handled at the Arapahoe County Combined Court Clerk’s office, as the Detention Center doesn’t handle them. Houses, jewelry, and vehicles are the most common types of property used for property bonds.

PR bonds with con-signer

These bonds are funded by the defendant and a co-signer. There are distinct requirements for the co-signer that they must meet. Both parties will be liable for repaying the bond.

How Do Surety Bonds Work?

Surety bonds act as an agreement among three parties—the principal (you), the surety (Fort Morgan Bail Bonds) and the obligee (the entity claiming the bond). The Surety Bond financially secures to an obligee that the principal will work by following the articles set by the bond.