Bail Bond (noun) – A bond purchased from a private source to secure bail. A bail bond is a security posted by a third party as the surety that an accused criminal will appear in court at a hearing, trial, or other specified date. Customarily, the defendant or others on behalf of the defendant pay 10 percent of the value of the bond to the bond dealer, customarily still called a “bail bondsman.” The bondsman posts a bond in the full amount, guaranteeing 100 percent of the bond. If the defendant appears, the bondsman owes the court nothing (or is refunded the whole bond).
- The judge set the defendants bail at $1,000 cash to get out of jail for the theft charge.