Different Types Of Legal Bonds

Different Types Of Legal Bonds

There are a number of different bonds used within the legal sector of the industry, which have been designed to accommodate and ensure the assistance of individuals faced with the necessity to meet diverse needs.

Municipal and bail bonds are some of the most common types of legal bonds which are utilized and made use of by different people. An appeal bond is another type of legal bond. All these bonds ensure assistance to people when the need arises which might pertain to the payment of an obligation, appear in court for a hearing or support a project, etc.

The laws governing these bonds are subject to variation due to the fact of there being certain differences in the details of the bonds laws which might vary from one state to the other. Therefore, it is very important to be well aware of the legal requirements and specifications in order to avail the benefits available of the bonds.

Los Angeles Bail Bonds

A bail bond is actually an agreement between an individual arrested for committing an illegal act or crime, and a bail bondsman. An individual arrested for being involved in an unlawful act is detained in the jailhouse till their case hearing.

Bail money is required as surety to get the detained individual out of jail till their appointed case hearing. If the offender and his relatives are unable to afford the set bail amount required for release on their own (in cash), then securing a bail bond is a viable option.

A bail bond entails an agreement between the offender and a bail bonding agency, based on which the agency provides surety on behalf of the detainee that they would turn up on the date of the case hearing as required. This serves to be of vital assistance to the arrested individual, as they only have to make a bail payment of around 10% of the bail amount to gain their instant freedom.

The offender may be required to offer property or an asset as collateral, which is required by the bonding agency to safeguard their interest, in case the defendant fails to show up at court on the appointed date.

It is industry practice that either the complete or partial bail money is returned to the individual when they turn up for their hearing. But any failure to be present on the assigned date results in the forfeit of the total bail money. Therefore, when a bonding agency provides surety and the offender fails to make an appearance in court for their case proceedings, then the bail bonds company has to make the payment of the total bail amount.

Bail bonds prove to be very helpful for individuals who do not have the immediate means to make a bail payment on their own, and are in need of assistance to escape jail time and prepare for their legal case proceedings.

Municipal Bonds

Municipal bonds are actually issued debts provided by the government, which are available for the assistance of individuals who wish to finance a certain project or invest in the improvement of a particular scheme. The projects might include restoration and development schemes related to the construction of roads or bridges.

Cities, school districts and local government bodies are some of the government entities which are eligible to issue municipal bonds to cater to the needs of an individual.

Appeal Bonds

An appeal bond is used when a case is presented to a higher court after a judgment from a lower court. An appeal is filed by the affected party for the review of the case by a higher court, which involves the payment of a set amount which acts as net surety, to prevent any frivolous cases from wasting the time of the court.

In order to make an appeal, it is required to make the payment of the set amount, according to both the local and the federal courts. As the payment required is usually very high, it is advisable to discuss the prospects of an appeal bond quite early during the case proceedings

All three of these bonds serve their own specific purpose to assist individuals according to their diverse needs.

This website is designed for general information only. The information presented at this site should not be construed to be formal legal advice or the information of an attorney client relationship. Bail Bonds Direct makes no warranties or guarantees of case outcomes.

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Bail Bonds

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