There’s an industry standard price for bonds, and while additional fees or court costs can change your out the door price for release after arraignment, this standard does limit the amount of deviation seen from one bond provider to another. That cost is around 10% of the total amount set by the judge, and it’s nonrefundable. It also tends to be a flat cost ratio, no matter how big or small the bond.
Keeping High Value Bonds Affordable
One of the top ways affordable bail bonds Williamsport PA stay affordable is by using collateral to limit the risks involved with high value release bonds. That collateral is typically a property asset like a home, vacation property, or rental investment. Sometimes, titled assets like vehicles or campers are also considered, depending on the bond company and situation. The collateral can be sold in the event the bond is forfeit to cover the cost, limiting the long-term risk to the bond companies.
Why Use Collateral?
Bail bonds are basically loans for the amount of the bail, and the fees serve as the financing charges that allow bond companies to pay their costs and continue operating. If too many bonds are forfeit and there is no collateral securing them, the financial losses could shut a company down. As a result, bond companies looking to weather those losses would need to raise rates. Bail bonds stay affordable by using collateral as an alternative way of handling risk, which ultimately serves the people who need them.
When To Call for Bond
The best time to call for a bond is immediately after arraignment, so you can provide concrete information about costs and the jail location where the defendant is being held. That allows bond company representatives to work quickly. Often, release is secured in just a few hours. How long exactly depends on the jail’s processing capabilities that day, though, so it can be hard to predict.