Bail & Bond: Are They the Same Thing?
While “bail” and “bond” both lead to temporary freedom, they are not the same thing.
A person must post bail in order to be released from custody; if the offender does not show up for court at the appointed time, the money is forfeited. When the defendant or a member of his family posts bail, the perpetrator is released from custody. In the event that bail cannot be posted, the possibility of a bond is raised.
In plain English, bonds are basically bail paid by a licensed bail bond firm. Collateral, such as a car or other property, is used to secure the loan for the offender. Additionally, he must pay a predetermined fee, typically 10% of the bail amount.
The bail bondsman then makes a partial payment of the bail to the court and promises to make up the difference if the offender fails to appear in court. Because the defendant forfeits his collateral property if he runs away, the court accepts this promise.