In the United States court system, the terms bail bond and surety bond are sometimes used interchangeably. However, there are some differences to be aware of, especially if you are not familiar with the bail process. Contact Owens Bonding Co. at 866-830-2663 for a surety bond in Wichita, KS today!
What is a Surety Bond?
A bail bond is a type of surety bond, but not all surety bonds involve bail. In fact, the bail system is uncommon outside of the United States. You might also hear the term surety used to refer to something other than a bond. A surety consists of one party assuming the responsibility of a borrower’s debt if the borrower defaults. In the case of a bail bond, or surety bond, the surety is the bail bondsman, and the borrower is the defendant.
However, there is also a third party involved: the court. This party is sometimes called the obligee, who receives the payment from the surety on behalf of the defendant. This system allows you to get out of jail without paying the full price of bail, because the bondsman takes on responsibility of the payment. If you follow through on your obligations by coming to court and meeting any other requirements, the bondsman does not lose any money. However, if you jump bail, or miss court, the bondsman will lose the money unless you are apprehended. This is why bondsmen require personal contact information and sometimes require collateral.
If you jump bail, the bail agent will work to track you down and arrest you. This practice is known as bail enforcement or bounty hunting. Once you are apprehended, you will be returned to jail and will forfeit your bond.
Choose the Team at Owens Bonding Co.
A surety bond or bail bond can range in amounts from hundreds to several thousand dollars. If you need help affording jail bail, choose Owens Bonding Co. With agents throughout the state, we can provide fast, local assistance. Whether you need a surety bond for DUI or a federal offense, our agents are here to help. Call us at 866-830-2663 for a surety bond in Wichita, KS.