Virgin Islands Order Setting Bond
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FAQ
If you post a bail of $25,000 for example, the bail bonds company can post bail for you if you pay 10% of the fee or $2,500. As long as you plan on attending court and following up with their agreement, you won't be responsible for paying the full cost of the bail, risking your assets, and more.
YOU GOT ARRESTED. NOW WHAT? Step 1: Call a bail bonds agent. If you or your loved one has been arrested, and you do not have the money or the assets to post bail, it's time to call a bail bond agent. ... Step 2: The paperwork. ... Step 3: Posting bail. ... Step 4: Release from jail.
Bail is the money a defendant must pay in order to get out of jail. A bond is posted on a defendant's behalf, usually by a bail bond company, to secure his or her release. Pending Warrant. Defendants with pending warrants are usually not eligible for bail. Bail is not intended as a punishment in itself.
Bail bonds, also called ?surety bonds? are used to have a defendant released from jail. Kind of like an insurance policy, the bail bond is submitted to the jail and the ?promise to make good? on that bond is put into play. That means, the defendant will go to court as promised.
In exchange for the capital, the company pays an interest coupon, which is the annual interest rate paid on a bond expressed as a percentage of the face value. The company pays the interest at predetermined intervals (usually annually or semiannually) and returns the principal on the maturity date, ending the loan.
The bail bond serves as surety that the defendant will appear for trial. Judges typically have wide latitude in setting bail amounts. Bail bondsmen generally charge 10% of the bail amount up front in return for their service and may charge additional fees. Some states have put a cap of 8% on the amount charged.
