I just don't understand this bond thing. I mean someone is putting up $500,000 to get her out, that $500,000 is coming from somewhere and it's not being paid back???? That is a lot of money to take someone out of jail that may end up back in.
Someone put up the bond
premium of $50K, which is 10% of the $500K bond itself, along with assets which are worth at least $500K, which the bonding company has a lien against.
No one
EVER gets the premium back, that's just the cost of doing business.
Actually its what the bonding company earns for guaranteeing the $500K to the court that she will appear for ANY & ALL hearings related to this case, and until the case is resolved & the court discharges the bond.
Even when that occurs, the premium is still not refundable. Again, it's the bonding companies profit, but they are off the hook for the $500K at that time & what ever collateral was put up at the time the $50K premium was paid is returned to who ever posted the bond, in this case "anonymous".
If she skips, the bond is forfeited, it's called an estreature; then the bondsmen's insurance company actually pays the $500K to the court.
The bonding companies have
X days to locate her, take her into custody, and turn her in to the sheriff. At that time she would be held on a "no bond " status for failure to appear.
If they don't locate her, the bonding company pays the court $500K and takes legal possession of the collateral to recoup their loss.
Hope this helps
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