How Do Surety Bail Bonds Work?

close up of surety bond document with glasses and pen

Learn More About A Surety Bail Bond

There are many occurrences that can take place where legal intervention is needed for a defendant on a case. One such option of assistance comes in the form of a surety bail bond, a unique way to get out of jail and guarantee that compliance is met with future proceedings. However, a surety bail bond will require time and processes to be met over time as with any bail bond or surety bond. Your particular case may even have varying conditions and altering timelines that will make it unique to other surety bond cases so it’s important that proper communication and research are done. Get in touch with a qualified professional to see what needs to be done with any specifics and information. Until then, here is some general information regarding a surety bail bond, that may prove useful to you.

What is surety bond in bail?

A surety bail bond will involve an arrested person providing an amount of money be it with property or cash to ensure that they will attend all future required court appearances. After this is offered the surety bail bond will then allow the person charged to be released from until the processes of their case are completed.

Is a bail bond a surety bond?

A  bail bond technically is a type of surety bond yet there are key differences. A surety bail bond will have to additionally connect to a surety bond company through a bail agent or bail bondsman to secure the release of a defendant from jail.

What is the difference between a bond and a surety?

The difference between a cash bond and surety bail bond is that a surety bond will involve three parties whilst a cash bond will only involve two. The defendant will use a surety company to pay the bail money for a surety bail bond.

How do surety bonds work?

A surety bail bond works as a three-party agreement that binds together the principal who needs the bond, the obligee that requires the bond and the surety company which sells the bond. This type of bond will require that the principal will act in accordance with certain laws relevant to the case or bond.

What’s the purpose of a surety bond?

A surety bond will basically be a financial agreement between three parties where the principal (person with bond) will be financially guaranteed to the obligee (government) that their obligations will be fulfilled. Technically, a surety bond is a risk transfer mechanism.

Why would I need a surety bond?

A surety bond will make sure to the obligee that the principal will perform a contractual obligation. In the case of a surety bail bond, this will mean the principal will follow through will all legal obligations of their case in a timely manner.

How long are surety bonds good for?

Most surety bonds will have an expiration date, however, since surety bonds themselves can vary greatly the duration of the bond will range. Such ranges of expiration dates could be a payment bond that lasts two years or a performance bond that lasts a year.

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How do you get out of a surety?

  • Get it canceled in writing with the permission of the creditor.
  • The bank can cancel it:
    • if the debt is paid in full. OR
    • one surety can be replaced with another, OR
    • the remaining surety is in a financially good position to meet the bank’s requirements.

Are surety bonds refundable?

A refund with a surety bail bond doesn’t usually occur and is also not required by the surety. Yet if you are looking to get a refund on a surety bond it’s best to contact the surety company that issued it to you. 

Does a Surety Bond affect your credit?

Your ability to purchase a bail bond as well as the rate of a surety bail bond will be affected by your credit score. As far as payments, usually with surety bonds, there is a one-time payment yet you will need to pay, say, $100 per month to keep it active.

Contact a Qualified Professional For Assitance

If you’re in jail and require the help of getting out with a surety bail bond, enlist in your local surety bail bond services. It’s important that all requirements are followed in order to not risk losing your bail bond and adding more charges and fines. Get in touch with your legal representative, bail bondsman, and surety bond company for any additional information or questions. Make sure to get familiar with any details and specifics to prevent any problems further along the road. When you find yourself in a sticky situation, a surety bail bond may be the solution for you. Seek the legal help that you need for a smoother process with your case. 

If you need help with a surety bail bond in Indianapolis, IN call 317-423-9300 with Indiana Bail Bonds!