Navigating the bail system can be confusing, especially when you’re faced with an arrest. You might have heard the terms cash bond and surety bond, and it’s important to understand the difference between the two. The type of bond you’re granted will determine how you can pay your bail and who you’ll need to work with.
What Is a Cash Bond?
A cash bond requires you or a family member to pay the entire bail amount directly to the court. The court will not accept payment from a bail bond company for a cash bond. While this sounds intimidating, the full amount is typically returned to you after all your court appearances are completed, minus any court fees or fines.
This option is typically used for lower-level offenses with smaller bail amounts. If you can afford it, a cash bond can be an easy option.
What Is a Surety Bond?
A surety bond is a financial guarantee provided by a third party, like an agent from Owens Bonding, to ensure your appearance in court. Instead of paying the full bail amount yourself, you’ll work with a bail bond company that pays the court on your behalf. In exchange for this service, the company charges you a non-refundable fee, which is a percentage of the total bail amount.
The court holds the money until your case is over, and then returns it to the bail bond company. The fee you paid the company is their compensation for assuming the risk that you will not appear in court. This makes surety bonds a good option for those who cannot afford to pay the full bail amount themselves.
Cash Bond vs. Surety Bond: Key Differences
- Payment Source: With a cash bond, the payment comes directly from you or a family member. With a surety bond, the payment comes from a bail bond company.
- Total Cost: A cash bond requires you to pay the full bail amount, which is then refundable. A surety bond requires you to pay a non-refundable fee (a percentage of the total bail) to the bail bond company.
- Who to Call: If you have a cash bond, a bail bond company may not be able to help you. If you have a surety bond, Find an Agent at Owens Bonding to help!
How We Can Help
If you’re unsure what type of bond you have or need assistance with a surety bond, we can help. At Owens Bonding Co., we’re experts in the bail bond process and can guide you through your options.
Call us today at 866-830-2663 for more information about the different bail bond options and to see how we can assist you with your bail bond needs.