Surety bonds work somewhat differently from cash bonds. They are more commonly used for bailing someone out of jail. Most bail bondsmen provide surety bonds for the release of the inmate at a fee of 10 percent of the total amount of the bail. Twin Cities Bail Bonds, one of the leading surety bond companies in Minneapolis, MN, charges 7% down on most bail bonds, and does not require credit checks or collateral requirements on most bail bonds.
Bail bond agents act as “sureties” and post bail on behalf of their clients. They earn their profits by charging their clients a non-refundable fee. If the defendant for whom they are posting bail fails to show up in court at the appointed day and time, the bail agent forfeits the bond amount.
There is a difference in the initial amount that is paid to secure a defendant’s bond between a cash bond and a surety bond. Cash bonds require the bail agent pay the entire amount of bail demanded by the court before the defendant is free. For example, if the judge sets bail at $50,000, the entire amount must be paid upfront. That amount is used as collateral until the trial is completed.