Facts Concerning Bailbonds in Norman OK
A Bailbond in Norman OK is money paid to the court (either by the defendant or his representative, as a family or lawyer) to ensure that the defendant attends all dates assigned by the court. Bonds are paid at the time charges are made or within a few days. When a deposit is paid to the court, the defendant is required to appear in court as often as necessary until the trial takes place. What are bail bonds and how can bonding agents help?
Suppose the defendant does not have the resources to pay bail at the time of their arrest. Instead of staying in jail, the defendant may obtain the services of a bail bondsman. He or she can take on the defendant with the assurance that he or she will make their court date. The defendant or their representative needs to pay a small fee or premium in advance. Usually, this amounts to 10% or 15% of the total amount of the bail, and all parties will need to provide collateral to guarantee the bond. The monies involved are non-refundable. Here’s an example.
Full bail amount is $10,000. The cost to obtain a bail bond is somewhere between $1,000 (10%) and $1,500 (15%). Keep in mind that this is non-refundable. There may also be a need to give up collateral to secure bail if the minimum amount isn’t available. People can pay $10,000 either in cash or in an acceptable form of collateral. What is collateral? What are acceptable forms of collateral and why is collateral always required when obtaining a bailbond in Norman OK?
Collateral is property the defendant or their representative gives the bondsman and gives full legal control of the collateral. Collateral is a way to ensure that the accused will fulfill all his or her obligations to the court, including appearing in court each time they are cited. If the defendant does not appear in court, the bail bondsman can sell the collateral to recover the amount the bail bondsman paid to get the accused released. Acceptable forms of collateral are cash, cars, real estate, and credit. This is not a complete list so schedule an appointment for more information.
