The Hillsborough County Sheriff's Office collects the cash bail bonds posted on behalf of the defendant (the accused), but transmits the monies to the Clerk of the Circuit Court (Clerk). Our choice to make up for dismal bond yields is to trade (specifically, sell) put options on cash that would otherwise be earning less than 3-6% in bonds, baby bonds or a bond fund. ". Texas will require a court to lower bail when a defendant has been held 90 days or more in jail without the return of an indictment. However, if you pay cash upfront for your purchase, you have more bargaining power from the get-go. With bail bonds, the defendant (or bond purchaser) is out the 10% fee no matter what happens. How the court returns the bond money depends on the rules of the court. Every day at wikiHow, we work hard to give you access to instructions and information that will help you live a better life, whether it's keeping you safer, healthier, or improving your well-being. And it doesn't just hurt them; it hurts every person connected to them." A cash bail bond, typically referred to as “cash only bail bond”, is a Court-ordered financial guarantee requiring the full amount of the bail to be paid in cash. Presentment of Evidence at Bond Reduction Hearing, Warehouse Safety Laws and OSHA Standards (2021 Update), the number of ties a defendant has to a community, the ability of the defendant to post bail. The court will look at the seriousness of your offense to judge whether releasing you would put the community at risk. Cash bail is seen most often with less serious misdemeanors, when it is not unusual for the defendant or an indemnitor to the entire amount of a $500 or $1,000 bail in cash. Unfortunately, many are surprised when they are hit with high or excessive bail. Think of the phrase “A person’s word is their bond”, except most courts prefer money to be the bond. This article has been viewed 34,580 times. In Florida, the clerk may withhold funds for unpaid costs of prosecution, costs of representation, court fees, court costs and criminal penalties. Names of the parties (typically “People v. [Your Last Name]” or “State v. [Your Last Name].” If there were multiple defendants, then there may be more than one name. Although a Patriot bond can be cashed in prior to its maturity date, its cash-in value will remain lower than its intended value upon maturity. If a … Year Cash flow Discounted Factor PV at; 1: 6,000: 0.92592593: 5,556: 2: 6,000: 0.85733882: 5,144: 3: 106,000: 0.79383224: 84,146: Total: 94,846: When coupon rate is lower than market rate, company must calculate the market price of bonds. State laws usually allow a judge to apply the amount paid in the cash bond toward any penalties or fines that are included in the defendant's sentencing. If you want to reduce your bail, then you need to file a document with the court (called a “motion”) and then prepare for the hearing. For example, there may be a “bail services” department. Defendant has lived in this community for 12 years, and has worked in the same job at Quick-Mart since 2007, where he is a full-time janitor. For all of the perceived advantages, a bond reduction motion has its share of potential disadvantages. Cash Bail Bond Procedure 4. When construction businesses are … Copyright © 1995-2021  |  FreeAdvice.com  |  15310 Amberly Dr, Suite 250, Tampa, FL 33647  |  Privacy Policy  |  Terms & Conditions  |  CCPA. The prosecutor can also cross-examine them. Cash bond – Either the defendant or any adult 18 or older can post a cash bond. A person's first thought upon landing in jail is often how to get out—and fast. So the longer you hold the bond (up to 30 years), the more it is worth. (Don’t cash or redeem Series F, G, J, K, H, and HH or Individual Retirement Bonds or Retirement Plan Bonds.) You could also try to get “released on your own recognizance.” This means that you promise, in writing, to show up to trial but you don’t have to post any bail; however, you may have to periodically check in with the court or promise not to leave the county. Instead of the defendant taking the stand and opening up to harmful admissions, a defendant may request a relative or friend to testify on his behalf. Short-term investment-grade bond funds provide a good cash … However, in other jurisdictions, the defendant is responsible for getting a setting for a hearing by contacting the court’s coordinator or secretary. How to Get Bail; Depending on the offense, there may be no need for a bond hearing.