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The first modern bail bonds business in the United States was established by Peter P. McDonough in San Francisco in 1898. [4] However, clay tablets from ca. 2750 BC describe surety bail bond agreements made in the Akkadian city of Eshnunna, located in modern-day Iraq.
Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.
On March 20, 2018, a judge set his bond at $500,000 for the single misdemeanor offense. Although Zachary Cruz's attorney did not specifically reference the Excessive Bail clause, he argued that the bail was excessive, considering the fact that the bond for Criminal Trespass is typically $25. [12]
FDIC-insured digital banks and online accounts are still paying out up to 5.05% APY — more than 10 times the national average — to grow your idle cash toward short-term financial goals or to ...
While inflation has cooled significantly from its peak of 9.1% in June 2022, recent data shows some persistence, Signs of cooling inflation had paved the way for September’s first rate cut in ...
Bonds typically trade in $1,000 increments and are priced as a percentage of par value (100%). Many bonds have minimums imposed by the bond or the dealer. Typical sizes offered are increments of $10,000. For broker/dealers, however, anything smaller than a $100,000 trade is viewed as an "odd lot". Bonds typically pay interest at set intervals.
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