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A surety bond is defined as a contract among at least three parties: [1] the obligee: the party who is the recipient of an obligation; the principal: the primary party who will perform the contractual obligation; the surety: who assures the obligee that the principal can perform the task; European surety bonds can be issued by banks and surety ...
The court in many jurisdictions, especially states that as of 2012 prohibited surety bail bondsmen – Oregon, Nebraska, Wisconsin, Illinois, Kentucky and Maine [29] – may demand a certain amount of the total bail (typically 10%) be given to the court, which is known as surety on the bond and unlike with bail bondsmen, is returned if the ...
In non-bailable cases, bail is not the right of the accused, but the discretion of the judge if regards the case as fit for the grant of bail, it regards imposition of certain conditions as necessary in the circumstances. Section 437(3) elaborates the conditions set by the law to get bail in non-bailable offences.
In some common law nations, a recognizance is a conditional pledge of money undertaken by a person before a court which, if the person defaults, the person or their sureties will forfeit that sum. It is an obligation of record, entered into before a court or magistrate duly authorized, whereby the party bound acknowledges (recognizes) that they ...
A bail bondsman, bail bond agent or bond dealer is any person, agency or corporation that will act as a surety and pledge money or property as bail for the appearance of a defendant in court. Bail bond agents are almost exclusively found in the United States because the practice of bail bonding is illegal in most other countries.
The subrogation right of the bond surety against the contractor (i.e., the right to sue for indemnification) is a deterrent to non-performance. Bond sureties often require additional security, including personal guarantees by principals of the prime contractor, to protect themselves in the event that the prime contractor ceases doing business ...
A federal judge on Friday temporarily blocked part of a Georgia law that restricts organizations from helping people pay bail so they can be released while their criminal cases are pending. U.S ...
The term "exoneration" also is used in criminal law to indicate a surety, i.e. bail bond has been satisfied, completed, and exonerated. The judge orders the bond exonerated; the clerk of court time stamps the original bail bond power and indicates exonerated as the judicial order.