When you decide to bail someone out of jail, you'll be taking on a great deal of risk. If you can't afford the bail amount, you'll probably get in touch with a bond agency. However, this doesn't mean that you don't take on any risk. Bonds agencies will usually require some form of collateral to ensure they can cover their losses if the suspect doesn't show up to court.
Your circumstances or those of the suspect can change at any time while you wait for the court date, and this is why bail bonds surrender is something you may have to consider before then.
What Does It Mean to Surrender a Bail Bond?
Surrendering is the process of canceling the bail bond and turning over the suspect to the appropriate authorities. This usually means that the defendant will be going back to jail. To surrender a bail bond, you don't have to physically turn over the suspect. You can simply let the bond agency know their location. However, you'll have to cover the costs involved in locating and taking the defendant back into custody. Additionally, the fees paid for the initial bond will not be refunded.
Why Surrender a Bail Bond?
There are many situations that can lead to the surrendering of a bail bond. However, the common factor is usually that the cosigner feels the risk is too much for them to take on.
Many people don't realize how much they're taking on by cosigning a bail bond. In case the suspect doesn't show up to court, you'll probably have to pay for the cost of hiring bounty hunters. If the individual is not captured in good time, you'll probably have to forfeit the collateral or cover the remaining bail amount in some way.
With such risks in mind, many people will surrender the bail bond if they feel the risk is more than they can handle or if the defendant acts in a manner that suggests they want to flee.
What If the Agency Surrenders the Defendant?
It's not just the cosigner that can surrender a bail bond. The agency that offers the bond can also do the same if circumstances suddenly change. For example, if the person is arrested for some other crime, the agency may feel they're too risky. In this case, they will provide written notice of surrender. However, the agency will also forfeit the fee that was paid to them.
For more information, contact local professionals like those found at First Choice Bail Bonds.Share
27 March 2019
When it comes to borrowing cash for a new house or a nice car, how much money do you really need? Although you might be tempted to mortgage yourself to the brim or borrow a little more than you should, the fact of the matter is that everyone has financial limits. My blog discusses the impact of borrowing more than you need, so that you can make smarter decisions with your money. In addition to keeping you out of trouble, this valuable information might also improve your quality of life and protect your financial future. You never know, it could make all the difference.