Bail bonds in Norman work by enabling a defendant to post bail that they otherwise wouldn’t have been able to. The defendant is represented by the bail bondsman, who posts the full amount.
A part of the bail sum, often 10%, is paid by the defendant to the bail bondsman. There is no refund for this payment. Typically, the bondsman uses collateral to secure the bond.
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What is a bail bond?
Bail bonds in Norman will pay the court on behalf of a criminal defendant through a bail bond. It is a kind of surety bond as a result. When a defendant’s financial position makes it difficult for them to post bail on their own, bail bonds are a method for them to do so.
A defendant is required to post bail in order to be let out of county jail prior to trial. The bond will be repaid if the defendant posts bail, shows up for all scheduled court dates, and abides by the conditions of their release. The entire bond amount is forfeited if the offender fails a scheduled court date.
Defendants may post bail by making use of a bail bond. This enables them to exit jail before their trial. However, offenders must pay a portion of the bail sum in order to obtain a bail bond. This percentage is nonrefundable, unlike bail, regardless of whether the defendant abides by all the terms of pretrial release.
What is the bail bond process?
The defendant can consult with a Norman bail bond once the judge sets bail. A percentage of the bail amount will be required from the defendant or a relative by the bail bond, also known as a bail bond agent. The standard rate is 10%.
The release procedure will begin as soon as the bondsman receives this payment. Usually, the bond agency will use collateral to secure the remaining bail money. In order to cover the remaining balance of the bail money in the event that the defendant flees bail. However, they must sign a contract forfeiting their property.
What does a bail bondsman or bail bond agent do?
A person or business that posts bail for defendants is known as a bail bondsman. Bondsmen are for-profit businesses that benefit from the fees they charge for posting bail and providing bail bond services. Therefore, they might also profit by bringing an action to recover any assets used as collateral for the bail bond.
In some areas, bail bondsmen can also get paid to bring a defendant to court who has skipped bail. These Bail bonds in Norman, often known as bounty hunters, can then bring home a percentage of the bond sum that the defendant forfeited.
The bail bond agent may contact the defendant’s relatives or friends for collateral if the defendant does not have sufficient assets to cover the amount.
Many qualified Norman bail bonds provide payment plans and a variety of payment choices if the defendant is not able to pay the charge. This would include cash bail money, debit cards, and credit cards. The bondsman would post bail on behalf of the defendant once they have received the fee and are approved with the collateral!