A bond is a financial instrument used as a form of guarantee or promise. It serves as a contract that a defendant will show up for each court hearing, each bond requires collateral, and a co-signer someone stating that they will be responsible for the defendant as well as for paying the company if the defendant defaults on the contract. the most used form of collateral is cash, the cash can be provided by a family member, friend, girlfriend exc.. other types of collateral may be a car title.
A Bail Bond is paid to guarantee a defendant will appear in court. A Surety Bond is a contract with a defendant through an insurance company, the Bondsman and the Iowa courts. There is a 10% premium fee on the total amount of the Surety. The premium on the bond is non refundable.
With a cash bail bond, the defendant or one of his family members pays the Bondsman 20% of whatever the bond amount is.
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