The most limited form of bail is “cash only.” An individual who has cash bail can only be released from custody when the entire amount is posted in United States dollars. Some crimes are deemed so serious under New Jersey Law that the only form of bail that can be granted is cash only. For more information on conditions and restrictions like this, click here.
Bond (a.k.a. Bail Bond)
In most cases, a bail is bondable. When this is the case, a surety bond, commonly referred to as a bail bond, can be posted in lieu of cash or property. In order to secure a bond, a 10% fee must be paid to a bail bondsman and his company will pledge to be responsible for the full amount of the bail should the defendant skip on bail. The fee paid is non-refundable and a bond will typically only be issued if there are co-signors who agree to act as sureties, that is, accept financial responsible for a default, should the defendant fail to comply and the bond become forfeited.
10% Cash Bail
A 10% cash bail allows an individual to post this percentage of the total bail, in cash, and be afforded release. However, the accused must pledge responsibility to pay the total bail amount, including the remaining ninety (90) percent that went unpaid prior to release, in the event that they flee. In other words, while the requirement for release is 10%, the full amount of the bail is due in the event of a default (net of the 10% deposit which is deemed forfeited). Conversely, if the accused does everything he/she is supposed to and fulfills the obligation on the bail, the 10% is refunded at the conclusion of the criminal case. In this respect, a 10% bail makes much more financial sense than spending the same amount on a non-refundable bail bond fee.
A property bond is satisfied by the posting of real estate with the court. This form of bail can become very complicated and there are a few things you want to know in this regard. Since the Court is interested in security in case of a default on a bail, only the equity of property is considered for purposes of a property bond. In fact, the equity possessed in the property must exceed the bail by at least $20,000. The way an individual establishes this value is being securing a certified appraisal for the property.
Release On Own Recognizance
When someone is release on their own recognizance, commonly referred to as an ROR, they are being released without posting anything. There is no cash deposit, no bail bond, or even a piece of property that is posted in order to secure release. Instead, the defendant must sign a recognizance pledging to be responsible for any set bail amount in the event of a violation of the release on his/her own recognizance.
For further assistance, an experienced bail attorney can be reached now at 973-710-1520.