What kind of collateral can be used

For those unsure of what collateral is, collateral is something that has value equal to the bail bond amount.  The collateral is held until the case is completed. The collateral will be returned when the defendant has completed his/her court appearances and has received a final disposition. So what kind of collateral can be used ? 

Collateral at James Bond Bail Bonds is not always needed, The charges, amount, and defendant history all play into determining collateral requisites.

But what if collateral is needed. Collateral comes in all shapes and sizes. Collateral for your bail bond can be a property deed, in which secures the bail bond by using property as a form of guarantee if the bail bond forfeits. A property deed is considered as good collateral if the property is either owned outright or if the property has equity, meaning the property is worth more than what is owed. For instance, if your home has a mortgage of $100,000 and it is worth $150,000 then your home can be used as collateral as there is $50,000 in equity. 

Car titles are similar, if you own your vehicle or have a "pink slip" car title, meaning no lien holders, or your vehicle has equity and is worth more than is owed, then a car title can be used as collateral. 

Anything that has value can be used as collateral to secure your bail bond. The most common forms of collateral are property deeds, car titles, and jewelry. 

For more questions related to collateral, Our Bradenton, Sarasota Bail agents at James Bond Bail Bonds can be contacted anytime day or night.

Failure to appear while on bail

This article is intended to bring light to a topic many defendants may not be aware of. Most defendants are aware that if a court date is intentionally missed that a bench warrant for contempt of court will be issued. However, many are not aware that this could also lead to other charges. For instance, if a defendant was bailed out in accordance to Florida statute 903 on a misdemeanor charge then failing to appear while on bail could result in a subsequent first degree misdemeanor charge, if a defendant was bailed out in accordance to statute 903 on a felony charge; a felony of the 3rd degree could result an additional charge. Below will list the Florida state statute in regards to failing to appear while on bail.

F.S. 843.15

The 2015 Florida Statutes

843.15 Failure of defendant on bail to appear.—(1) Whoever, having been released pursuant to chapter 903, willfully fails to appear before any court or judicial officer as required shall incur a forfeiture of any security which was given or pledged for her or his release and, in addition, shall:

(a) If she or he was released in connection with a charge of felony or while awaiting sentence or pending review by certiorari after conviction of any offense, be guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084, or;

(b) If she or he was released in connection with a charge of misdemeanor, be guilty of a misdemeanor of the first degree, punishable as provided in s. 775.082 or s. 775.083.

(2) Nothing in this section shall interfere with or prevent the exercise by any court of its power to punish for contempt.

Title XLVI
CRIMES

Chapter 843
OBSTRUCTING JUSTICE

Bail VS Bond

Many people ask what is the difference between Bail VS Bond, the difference between the two is very small yet they both share the same purpose in gaining a defendants release from jail while awaiting their trial. There are many factors that come into play in determining a defendants bail amount. In some cases the bail amount is determined by the judge. Once the bail is set the defendant has the option of using either a Bail Bondsman or paying the full bail amount in cash. If the defendant or his/her family post the full bail amount to gain the defendants release this would be considered as utilizing a cash bond. The money put up by the defendant or family will be held until the case has a final disposition. Once the case is over and disposition has been determined; then the bail amount put up will be returned to the depositor, however all court cost and fees will be taken out of this amount before returning the money to the depositor.

Most people do not have the option to be able to post the full bail amount on their own. This is where the term bond comes into play. If a defendant cannot pay the full bail amount by themselves they can utilize a bail bondsman. The bail bondsman will put up the full amount for the defendant for a fee. In Florida, and Manatee, Sarasota County that fee is 10% of the bail. For example, if the bail amount is set at $10,000 the defendant or family would only have to pay $1,000 to secure his/her release from jail, in which case would be defined as using a "bail Bond". The Bail bondsman is responsible for the defendant to appear at all necessary court dates. The Bail Bondsman pledges to the court that he/she will be responsible for making sure that the defendant appears for their court dates or the money that was pledged to secure the defendants release now becomes forfeited and the full amount of the bond must be paid. In Florida the person responsible to pay this amount would be the indemnitor who signed for the defendant to be released from jail. If any collateral was put up by the indemnitor that collateral will at this point be converted to pay the full amount. A new bench warrant will be issued for the defendant and the bail bondsman or his/her agents will also be searching for the defendant during this time to re-arrest the defendant and to place back into the custody of the court.

To conclude this article, those that secure their release by paying the full bail amount by themselves or family are "bailed out" and those that seek the assistance of a bail bondsman by paying a 10% fee are "bonded out"