A staunch member of the American Anti-Slavery Society and Union supporter, Gerrit Smith and other notables like Horace Greeley signed the 1867 bail bond for Jefferson Davis, the Confederate president, to ensure his right to trial after languishing two years in jail.
Did you know that the English Bill of Rights of 1689 declared restrictions against “excessive bail” and that this later inspired the Virginia state constitution and the Eighth Amendment to the United States Constitution?
If you have a family, then you know that being away for even a few days can have a bad effect on them. By paying for your bail, a bail bond agency helps you get back to your family quickly, so you can continue taking care of your familial duties.
So what does it mean to collateralize a bond? Collateral on a bond is simply what is accepted by a bail agent to guarantee that the bail agent will not suffer a financial loss if the defendant’s bond is forfeited. The most common form or collateral is an indemnity agreement or a promissory note.
There are four basic bail bond types: cash, secured bail bond, unsecured bail bond, and OR (own recognizance). These types of bonds are contingent on behavior, cash bonds, property bonds, and surety bonds. Surety bonds are those handled by the bond agent.
In 1689, the English Bill of Rights restricted “excessive bail” and served as the inspiration for similar laws in the American colonies. In 1791, the Eighth Amendment to the Constitution was ratified to ensure accused individuals had the right to reasonable bail.
Criminals wear disguises, and so do the police. Undercover police officers are taking the uniform to the next level: Dressing up like the pizza delivery person, the mailman or the newspaper boy is becoming more common for the well-dressed undercover cop trying to make a bust.
A bail bond company that issues a $100,000 bond for a defendant generally pays only 10 percent of the bail. If the defendant leaves town, the bail bond company has to pay the entire bond. A bounty hunter can save the bail bond company thousands of dollars or more by finding the defendant.
Even if you’re innocent, there can still be a stigma attached to going to jail while you await trial. Bail bond agencies can often get you released within hours (depending on the court system), which can minimize the impact on your life.
