Details About Collateral Bonds In Valley Brook, OK

by | Aug 7, 2019 | Bail bond agents

In Oklahoma, criminal defendants receive bail bonds after entering into a contract with the bonding agent. The product help defendants get out of jail and remain at home until their trial. The defendant must be approved for bail by a criminal court judge during their arraignment. Bonding agents explain details about Collateral Bonds in Valley Brook OK.

Calculate the Cost of the Bail Bond

The bail bondsmen accept a fee for the bail bond. The fee is calculated according to the applicable percentage in their area. The percentage ranges between ten and fourteen. Local laws prevent the bondsman from overcharging criminal defendants for the bond.

Review Possible Collateral for the Bail Bond

The bonding agent explains what types of collateral are acceptable for a bail bond. Real estate is the most popular choice and is higher than the bail for most defendants. Automobiles, jewelry, and assets with an official appraised value are acceptable for bonding agents, too. The balance of a savings account or CD is also acceptable, and it must be higher than the bail amount.

Create a Binding Agreement

By using the collateral, the owner enters into a binding agreement with the bail bondsman. The agreement gives the bonding agent access to the property if the bail bond is forfeited or nullified by a new arrest. The proof of ownership is returned to the owner after the defendant fulfills their obligations to the bonding agent.

The Repercussions of a Failure to Appear

If the defendant doesn’t appear in court, the judge issues a bench warrant for their arrest. The officers won’t need probable cause to arrest the defendant. All collateral used to secure the bail bond is seized and sold. The owner won’t receive any proceeds from the sale of their asset.

In Oklahoma, criminal defendants receive a bail bond through a cash payment or by using collateral. Their representative must offer proof of ownership for any collateral used to secure a bail bond. The bonding agent needs a title or deed to process the bail bond. Criminal defendants who need to acquire Collateral Bonds in Valley Brook OK Contact Advise Bail Bonds for more details now.

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