Serious criminal charges also carry serious bond release assessment
All bail bonds above $50,000 are considered large bonds in New Jersey. Luckily, New Jersey is one state where the defendant is not completely at the mercy of the state prosecutor. Bail bonding is a thriving industry in New Jersey and those who find themselves being charges by the local authorities have an option for being released from custody while awaiting trial.
Bail bond premiums in New Jersey are set by the New Jersey Banking and Insurance Department and are not negotiable under the 10% or over the 20% premium range. A bond premium is a percentage of the total bond charged for carrying the defendant's release from jail. All bonds in excess of $10,000 will require a promissory note and collateral, so any large bail bond will be likewise with a more stringent financial status check of the defendant.
Even when the defendant has considerable personal wealth the bondman may require a third party as co-signer for the note to ensure the court appearance. It is important to understand that bond premiums are a service fee and represent a sale for the bonding agency. No money actually changes hands until a defendant misses the appointed court date and the bond is forfeited.
Always remember that "skipping out" on a jail bond is a real bad idea because the promissory note allows for civil recourse by the bonding agency against those who have signed the promissory and will lead to additional criminal charges for the defendant as well as civil liability. Most failure-to-appear charges result in additional criminal charges along with civil recourse.
Disclaimer: This information is issued as a public education service by 1st Class Bail Bonds NJ and does not constitute legal advice, which should only be given by your attorney. The contents of this post pertain only to the laws of the State of New Jersey
