The terms Bail and Bond create a lot of confusion. This bail vs bond article will clear many questions. These two terms are often used as substitutes by people all over the world. However, there still exists a fine line of difference between bail and bond.
When the police arrest a person, then that person will have to report to the court of law for the final judgment. In that case, the accused or their family can legally demand a temporary release of the accused. This is called bail. It is based on the deposit of some security amount and is granted only on the condition that the accused is awaiting the trial.
On the contrary, a bond is referred to as the type of agreement in which a third party, like a bondsman or bond agent, enters into an agreement, to be responsible for the debts and obligations of the accused under indictment. In that case, the third party, then, becomes answerable for the debts and obligations of the person under impeachment.
The two terms, bail and bond, are more or less related to one another. The key difference between them is that bail means the temporary release of a potential convict from police custody, whereas a bond involves a broker who becomes responsible or answerable in case the accused fails to appear for trial in court.
Comparison Table: Bail vs Bond
| Criteria | Bail | Bond |
|---|---|---|
| Definition | When an amount of fees is paid on behalf of the person accused, the court then grants him permission to stay out of jail. | A bond takes place when the convict does not appear in jail after a given duration of time. The offense then gets shifted to the hands of the broker or bondsman. |
| Fine paid by | The defendant or someone on their behalf. | The additional separate third-party broker or bondsman. |
| Consideration | Cash is the only consideration that is kept for evidence during bail. | Bond involved the 3rd party broker who looks after the obligations and debts of the convict. |
| Money | The money deposited during bail is completely refundable once the period or tenure for the bail is over. | In the case of a bond, the money that has been deposited will not be refunded even if the convict has followed the obligations and paid the dues. |
| Costs | The cost and expense of bail are lower than that of the Bond. | The bond and the fees of the 3rd part bondsman make it very costly. |
About Bail
The term bail means the release of a potential convict from police custody by paying an amount as collateral. The accused is then entrusted to the private custody of the person in charge, who guarantees the department to produce the litigant whenever required. The collateral amount paid is refunded when the convict joins back the court of law.
As per the rules and guidelines of the administration, a specified sum as security has to be deposited for availing bail, which is refunded to the person, if he or she complies with the conditions carefully. On failure to follow such regulations or if the person defaults in the fulfillment of the conditions specified in the agreement, without any reasonable cause, the same will be forfeited.
The bail expense is always charged in cash and is fully returnable to the accused in jail. The amount can be either paid by the accused on his own or someone close to him, who is entrusted with his private custody, like support, household, or relations.
The convict has to follow all the rules and guidelines set by the court, for the amount to be refunded completely. Bail is always implemented for a definite tenure, as per the orders by the court or the rule of law.
About Bond
A bond is a formal written document, duly signed by the defendant, that has the permission of both the convict and the third party broker or bondsman. In such agreement, they promise to all the obligations and duties of the felon, as set by the court of law or jurisdiction.
On failure to appear to the court for such criminal proceedings at a specified date and time, a hefty and definite sum is charged as a penalty. The bondsman or guaranteer is caught responsible if the convict misses the target or fails to fulfill his obligations and duties under the stipulated time, as set by the court of law.
In simpler terms, the bond is actually a commitment by the intermediate person duly signed, that they will be responsible to fulfil the debt if the accused defaults in appearing before the court or if there is any misconduct of the felon during the remand period.
Such a mechanism is used to avail the release of a probable convict, who is awaiting his trial in court, upon the charges from the police custody. The defendant pays an additional interest of 10% on the actual value of the bond to the bondsman, along with some collateral, or security.
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Difference Between Bail and Bond
1) Meaning
On behalf of the accused, a small amount of fees is paid. The court then grants him permission to stay out of jail. This is known as Bail. On the other hand, if the convict does not show up in jail after a given time and duration, the offense gets shifted to the broker or bondsman, this is known as a Bond.
2) Fine or Fees paid by
During Bail, the fine is paid by the convict himself or someone else like family and relatives. During a Bond, the separate additional party broker or bail bondsman pays the fine.
3) Consideration
During Bail, only cash acts as a consideration and it is kept as evidence. In the case of a bond, the 3rd party broker looks after the obligations and debts of the convict.
4) Nature of money
In Bail, the money deposited is completely refundable after the bail period or tenure is over. In Bond, the money once deposited, cannot be refunded even if the dues are met by the convict.
5) Costs incurred
The cost and expense involved in bail are comparatively lower when compared to a Bond. The fees of the third party involved in a bond make it a costly deal.
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Naomi is an educator with 2 decades of experience working with children of all ages. She is a keen observer of the magic and importance of Maths in our daily lives. Follow me on Linkedin