The goal of a bail bond: preventing abuse that may arise in the course of judicial appeal in such a case when the purpose of such an appeal is not related to the reason for the provision of bail.
The definition of bail bonds can be described as follows: it is a written promise signed by the accused person (who requires a bail in the court) and a document (security) on that the bailsman acts as a guarantor that the accused person will face justice in the court in due time and in accordance with the order of the court. The amount of the bail should be established by the court.
And now let’s we will decipher this definition. A person arrested for a crime or an offense has two ways: either he stays in a jail until the court makes its determination or he post a bail which is as a guarantee that the suspected person will face a justice in the court in due time and will be released from the jail before the appointed time. Naturally, the amount of bail depends on the degree of criminal act. Often there is thus a situation when a suspected person cannot pay his bail but he does not want to be imprisoned in a jail before the trial.
In such a situation a defendant can use the services of the Bail Bonds Company. A mortgage bond company appoints a mortgage bond agent to place a security deposit for the defendant. The pledge is paid by a bailsman (bail bond agent or a contact person). Bail bondsman charges a percentage (usually 10%) of the deposit amount as a payment for services rendered.
Bail bonds agent (bail bondsman) may require collateral in the form of valuable property, securities, or a credit certificate. Then the agent will pay a bail so that the accused person can be released awaiting trial.
If the defendant does not have enough security, the bail bondsman can look for relatives and friends to help cover the bond. The bail is used to pay the remaining 90% of the bail to the court if the defendant does not appear at the court’s appointed court date.
If the defendant did everything correctly and arrived at the court in due time then the bail bond is terminated upon completion of the court case, and the amount of it is returned to the person who placed it.
It is interesting that not all states allow the use of bail bonds agents: Illinois, Kentucky, Oregon and Wisconsin prohibit the use of bail bondsmen. These states still have mortgage bonds, but a 10% payment of the bonds is received by the court and not compose the amount of the bail bonds themselves.
Based on this article – https://www.investopedia.com/terms/b/bail-bond.asp