Getting arrested can be quite a harrowing experience, especially if it’s the first time you’ve been detained. The good news is that you can always rely on a reputable bail bond agent to help you secure a quick release from jail while you await trial.
While your bail bond agent will deal with most of the paperwork and legal formalities on your behalf, it always pays to have some knowledge about the bail system and the different types of bail bonds out there. This is especially pertinent if you’ve been arrested out of your home state.
Over the course of this blog post, we’ll explore the differences between transfer and surety bonds and also speak of the situations where each type of bond applies.
What Are Surety Bonds?
A surety bond is essentially an agreement which guarantees the fulfillment of an obligation or the provision of a financial compensation in case it’s not met. The acquisition of a surety bond means three parties get into an agreement: the principal, the surety and the obligee. The principal obtains the bond as a surety that they will fulfill a specific obligation to the obligee. In case the principal fails to full the obligation, the obligee will receive compensation from the surety.
Typically, an indemnity agreement is also included with a surety bond for the protection of the surety. It ensures that indemnification of the surety in case it pays out a loss to the obligee on behalf of the principal.
When you get arrested, the bail bond agent posts the bail on your behalf, for which they charge a fee. The bail amount is returned to them, provided the defendant doesn’t flee the jurisdiction while legal proceedings on the case are still ongoing.
So essentially, all regular bail bonds are surety bonds: the principal is the defendant, the surety is the bail bond agent, the obligee is the state and the obligation is attending the court hearings.
What Are Transfer Bonds?
A transfer bond is similar to a regular bail bond, except that it’s applicable across state lines. A transfer bond is a bail bond that’s posted from the detainee’s home state. It’s more or less equal to a surety bond or cash. A transfer bond enables your friend or family to sign legal paperwork on your behalf and acquire bail to secure your release from jail.
The out-of-state bail bond agent will directly work with the bail bond the detainee has chosen in their home state. The process of transfer bond is a more detailed and lengthier process, requiring more man-hours compared to a standard in-state bail bond.
The Bottom Line
The ultimate takeaway is that transfer bonds are basically the same as surety bonds, except for the fact that they are exclusively applicable to cases where the defendant was arrested outside their home state’s jurisdiction. So while all transfer bonds are surety bonds, not all surety bonds are transfer bonds.
If you require the help of a bail bond agent in Hamilton County, you can rely on us at DeLaughter Bail Bonds. In addition to being available 24 hours a day, our experienced agents are dedicated to ensuring that you’re released as quickly as possible. Get in touch with us for more information.