9 Things You Should Know About How Bail Bonds Works.
Bail bond is a convenient and efficient way to help a person get out of jail. With the help of a bail bondsman in Denver, posting bail can be done within minutes, and you can see your loved one is set free within hours. However, the process can be confusing for those who are not familiar with court laws. Here are the things that you must know that can help you understand how do bail bonds work in Denver.
A person should be booked and charged before the bond is posted
A person is not instantly booked and charged upon arrest. It takes about 45 minutes to several hours before the booking is complete. Bail is set by the judge once the charges have been determined. Bail is set depending on the charges faced by the arrestee/detainee among, how often the person was charged prior, as well as the person’s flight risk. Only then can you calculate the amount of bail bond required.
You need to know the conditions of the bail
In some instances, an arrestee can be set free without bail with Own Recognizance bond. This is signing a promissory agreement to appear in court after release. Other times, bail is denied entirely if the crime is severe (i.e., murder, drugs), the person is a high-flight risk, or is a danger to the community. You have to know the full details of the bond so that you will see what you need to have before contacting a bail bonding company.
The Colorado Division of Insurance regulates bail bonds in Denver
Each state has its own regulations when it comes to posting express bail bonds. The Division of Insurance in Colorado has stipulated that 10 percent bail bonds are the minimum premium that you have to pay to a Denver bail bondsman. Depending on the conditions of the bail and the character of the defendant, the premium can go as high as 15%.
Premium is non-refundable
Although you can get your collateral back after the court has made a decision, the premium stays with the bonding agent. This fractional amount is your payment for the services he/she has provided to bail your loved one. As your bail bondsman, the agent will take over the responsibility of making sure that your defendant appears in court. If your loved one fails to do so, the bail bonding agent is at risk of paying the entire bail amount in full.
A cosigner is needed for getting Bail Bonds in Denver
When you hire a bail bondsman, you set yourself as a cosigner or indemnitor. When you establish yourself as an indemnitor, you take on the responsibility of making sure that the defendant brings himself/herself to court. Depending on the amount of bail, you may be required to provide collateral to cover the remaining cost of bail.
Collateral can be many things
There are different items that you can use for collateral. It can be your house or property, car, boat, jewelry, precious gems or metals, or other items that are of value. The collateral should be more than equal to the amount of the entire bail.
You should get proof of agreement and payment
The bail bondsman should explain the full details of the bail bond agreement before you agree to sign. Once both of you agree on the terms, you are required to sign a contract before the bonding agent receives your payment. You should have your copy of the contract as well as a receipt for all the fees that you pay the bondsman.
The defendant must report to the bail bondsman 24 hours upon release
The defendant must report to the bail bonding agent to fill up and sign a defendant form. The agreement contains all the duties and responsibilities of the defendant to the bail bondsman while out on bail. The conditions may include staying within court jurisdictions, avoiding acts of crime, and informing the agent of any changes in contact number or address. Depending on the severity of the case and the flight risk of the defendant, he/she must report to the bail bondsman weekly or monthly as well.
Revoking a bond is a lengthy process
You may remove yourself from being a cosigner if you feel that the defendant will skip bail or that your collateral is at risk. However, it takes court ruling for this to happen. You can release yourself from the liability if the defendant pleads guilty, or if you request the agent to revoke your bond. Doing this, however, will incur fees. Make sure that you know the person you are bailing out, and you are sure about your decision before becoming a cosigner.
Bail bonds can hold many legalities and responsibilities. If you need to bail someone out, or if you have questions about Denver bail bonds, our expert local bail bondsman will help make the process clear and simple to understand. VIP Bail Bonds is a 24-hour bail bonding company that you can trust. Contact us now at (303) 778-0026, and we’ll take care of posting bail for you.
