Ad
related to: cash property surety bond meaninguslegalforms.com has been visited by 100K+ users in the past month
Search results
Results from the WOW.Com Content Network
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 ...
In the United States, it is common for bail to be a cash (or other property) deposit. Cash bail in other countries is more limited. [3] Known as a bail bond or cash bail, an amount of money is posted so that the suspect can be released from pre-trial detention. Unless posted by a bail bondsman, this deposit is refunded if the suspect makes all ...
Surety bond: By a surety bond, a third party agrees to be responsible for the debt or obligation of the defendant. In many jurisdictions this service is provided commercially by a bail bondsman , where the agent will receive 10% of the bail amount up front and will keep that amount regardless of whether the defendant appears in court.
In addition to the use of bail bonds, a defendant may be released under other terms. These alternatives include pretrial services programs, own recognizance or signature bond, cash bond, surety bond, property bond, and citation release. The choice of these alternatives is determined by the court. [citation needed]
A deposit bond [1] or deposit guarantee is a type of surety bond, a financial instrument commonly used in Australia for a security deposit as an alternative to cash. Deposit bonds facilitate residential and commercial real property purchases. A buyer can use a deposit bond in the place of cash, by giving the seller a deposit bond at the time of ...
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money , intended to secure a futures contract , commonly known as margin .
The former often presents unilateral obligations secured in the form of property, surety, guarantee or other collateral (originally denoted by the term security), whereas the latter often presents bilateral obligations secured by more-liquid assets (such as cash). Collateralization of assets gives lenders a sufficient level of reassurance ...
A recognizance is different from a bail bond in that it is a pledge of money and no upfront payment of a cash deposit is required. [3] [4] Historically recognizances were also used by courts of quarter sessions to require a person to attend court and give evidence. [2]
Ad
related to: cash property surety bond meaninguslegalforms.com has been visited by 100K+ users in the past month