Each year thousands of individuals are arrested by authorities in Phoenix AZ & its surroundings. It is a matter of fact that most accused of less critical offenses manage to get themselves out of the jail within a few hours or days. This is possible as we have a very comprehensive bail system emplace here. It is quite straightforward and today we will share some random facts about Phoenix AZ Bail Bonds
1) Phoenix AZ Bail Bond Premium Rates
Well, this perhaps is the most crucial question in perspective of accused individuals who cannot settle their bails as they don’t have enough money. Usually, courts approved entities called, Bail bondsmen service are acquired to end up with a settled bail. As far as the premium rates are concerned, it is something governed by the AZDOI (Arizona Department of Insurance). Currently, the AZDOI has directed premium rates to be not less than 10% of the actual bail amount. Phoenix AZ Bail Bonds are offered at various rates by different bail bond companies operating in the market.
2) The Standard Components of a Bail Bond
The structure of Phoenix AZ Bail Bonds or surety bonds can be understood by considering these two of its parts;
I) The Fee & Premium: It is paid by cash, bank deposit or by credit cards as well. These two elements are NON-Refundable and in most cases are collected up front
Ii) Collateral – It is the second part that usually happens to be any tangible property or asset equal to or greater in value to the actual bond amount as settled by the court. Let it be like this; a $5000 bond requires $5000 or more worth of valuables). The value of the property is determined by the application of evaluation methods just like pawn shop type.
3) No collateral Phoenix AZ Bail Bonds
In some cases, Non-Collateral Phoenix AZ Bail Bonds are also offered by vendors. It is something that actually depends on several factors. In our view, collateral bonds are much better than the non-collateral ones. But, on occasions, you could expect a compromise or negotiations as well.
4) Use of GPS Ankle Monitor
Like elsewhere, technology`s involvement and its benefits could be witnessed in bail bonds industry as well. These days, GPS Ankle Monitors are used by many Phoenix AZ Bail Bonds wherever bail money is raised in form of no collateral bail bonds. These monitors, remain fixed with the ankle of accused on bail. Thus, it keeps the bail bondsmen informed about the real time location and a chance of his or her escape become narrower.