I consume a lot of law related content and I always hear about bail and bond being used in the same context almost interchangeably. I googled it but I still can’t really make sense of it.
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Bail is what a judge says you need to put up to get out of jail before trial, say, $10,000. This money is returned when you return to court.
Not everyone has $10,000 is cash or assets lying around to do this.
So companies exist that will pay your bail for you, for a fee that’s isn’t returned to decrease their risk, usually around 10%. Similar to how a credit card charges you interest to borrow money you don’t have to buy things.
So you only have to come up with $1000 to get out of jail. But you get that back. These are bail bondsman. They post bail, and you pay less.
Of course if you have cash or assets bail saves you money.
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