News about celebrities being arrested can be seen almost all the time on TV, and most people may wonder what it means when they are released on bond. Nearly everyone is at least somewhat familiar with the concept of paying refundable bail for pretrial release, but what is a bond? A bail bond service in Lakeland can answer that question in detail. Essentially, the service provides a surety bond to the court so defendants can be released for a smaller amount of money.
Avoiding the Liquidation of Assets
This obviously makes sense for people who don’t have enough cash to pay bail, but wealthy celebrities can afford huge sums of money that the rest of America can only dream of. Nevertheless, they may not be able to liquidate their assets as quickly as they want to in order to obtain amounts like $1 million or $500,000. The bulk of their assets may be tied up in real estate and other non-liquid investments. Also, they don’t necessarily want to sell a vacation home, a yacht, or their favorite foreign sports car.
Considering Service Fees
Unlike bail, the fee for bail bond service in Lakeland is not refunded after the case ends. Yet, that fee is acceptable to people who are trapped behind bars and anxious to get out. High-profile celebrity legal cases with bail set at $1 million or higher come with significant service fees for bonds, but they have little trouble affording the amount. They would rather pay that money instead of tying up $1 million for a lengthy case period or having to sell a prized possession.
Signature Bonds and Surety Bonds
Wealthy celebrities and other people with substantial amounts of money may be released on a signature bond instead of a surety bond. The court knows they can collect the bail if the defendant flees the country. Others are usually not so fortunate; many Americans would have serious difficulty paying $50,000 or even $20,000 for cash bail, as they simply do not have that much in savings. However, they can always turn to an agency like Zona Long Bail Bonds for help.
