What are the different types of bail?
Below are the five most common types of bail we see in our Cleveland office. Contact us with any questions about obtaining these bail bonds from our bail bondsmen.
A cash bond has to be posted with the court by the signer. It is the total amount of the bail paid in cash. If all the courts stipulations are met the money is returned.
Ten Percent Bond
10% Bond- A ten percent bond also has to be posted with the court by the signer. An example of a ten percent bond would be, a bond amount of $10,000 would require $1,000 being paid to the court. After all the courts stipulations are met, the money is returned.
A Surety Bond
Surety Bond- This process involves a contractual undertaking guaranteed by an insurance company having adequate assets to satisfy the face value of the bond. The bail agent guarantees to the court that they will pay the bond forfeiture if a defendant fails to appear for their scheduled court appearances. The bail agent's guarantee is made through a surety company and/or by the pledge of property owned by the agent.
Own Recognizance Bond (OR)
Own Recognizance Bond (O.R.) -Another method of release pending trial is through a county or law enforcement administered pre-trial release program. Usually, the staff members of these programs interview individuals in custody and make recommendations to the court regarding release of these individuals on their own recognizance, or a no-cost bail (i.e., without any financial security to insure the interviewee's return).
Property Bond- In rare cases, an individual may be released from custody by posting a property bond with the court. Here the court records a lien on property, to secure the bail amount. If the defendant subsequently fails to appear at the scheduled court dates, the court may initiate foreclosure proceedings against the property to obtain the forfeited bail amount.