4 ms·

It's asked a few places here so I'll answer in the topLevel: Buying a bond is done by paying a portion of the total bail amount. It's the same as: I have $1M

It's asked a few places here so I'll answer in the topLevel: Buying a bond is done by paying a portion of the total bail amount. It's the same as: I have $1M liability insurance or something, but it only costs me $100/mo.

tptacek 4y ago
Right: bail itself is refundable, but a bond payment isn't.
- thepasswordis 4y ago
  It's why I think the insurance analogy works. I don't get a refund on my insurance for not using it either.
caminante 4y ago
Are SBF's bond guarantors posting collateral or are they actually paying a non-recoverable expense? I thought it was closer to the former.
- jojobas 4y ago
  Bail is refundable, bond usually means you pay an unrecoverable fraction of the bail for someone to pay the bail for you.
  - dragonwriter 4y ago
    > Bail is refundable Bail becomes due if you fail to comply with the release terms; in some systems, you can pay the amount of bail in advance as security, in which case it is refundable. > bond usually means you pay an unrecoverable fraction of the bail for someone to pay the bail for you. Typically, to stand as surety for you in place of you providing security in the form of bail payment. When this is a bail bondsman, they usually do not actually deposit the amount of bail as security, they have met state-issued guidelines that allow them to stand as sureties without doing so.
- dragonwriter 4y ago
  > Are SBF’s bond guarantors posting collateral or are they actually paying a non-recoverable expense? “Sureties” is more correct than “bond guarantors”, and a mix of the first and neither, but mostly neither. (That is, his parents have executed a lien on their home, and the other sureties have not provided any security.)
dragonwriter 4y ago
> Buying a bond is done by paying a portion of the total bail amount. This is true if you are “buying a bond” from a bail agent, (where you are essentially paying the agent to stand as a surety) especially in one of the many states which specifies an exact share of the bail penalty for which such bonds must be sold by registered bail agents, so as to prevent price competition between bail agents. But…that’s not relevant, because the federal court he is in (the federal system has some leeway in how particular courts operate on this) doesn’t use bail agents, the people standing surety are doing so for reasons other than they are paid by the accused.

tptacek 4y ago

Right: bail itself is refundable, but a bond payment isn't.

thepasswordis 4y ago
It's why I think the insurance analogy works. I don't get a refund on my insurance for not using it either.

caminante 4y ago

Are SBF's bond guarantors posting collateral or are they actually paying a non-recoverable expense? I thought it was closer to the former.

jojobas 4y ago
Bail is refundable, bond usually means you pay an unrecoverable fraction of the bail for someone to pay the bail for you.
- dragonwriter 4y ago
  > Bail is refundable Bail becomes due if you fail to comply with the release terms; in some systems, you can pay the amount of bail in advance as security, in which case it is refundable. > bond usually means you pay an unrecoverable fraction of the bail for someone to pay the bail for you. Typically, to stand as surety for you in place of you providing security in the form of bail payment. When this is a bail bondsman, they usually do not actually deposit the amount of bail as security, they have met state-issued guidelines that allow them to stand as sureties without doing so.
dragonwriter 4y ago
> Are SBF’s bond guarantors posting collateral or are they actually paying a non-recoverable expense? “Sureties” is more correct than “bond guarantors”, and a mix of the first and neither, but mostly neither. (That is, his parents have executed a lien on their home, and the other sureties have not provided any security.)

dragonwriter 4y ago

> Buying a bond is done by paying a portion of the total bail amount. This is true if you are “buying a bond” from a bail agent, (where you are essentially paying the agent to stand as a surety) especially in one of the many states which specifies an exact share of the bail penalty for which such bonds must be sold by registered bail agents, so as to prevent price competition between bail agents. But…that’s not relevant, because the federal court he is in (the federal system has some leeway in how particular courts operate on this) doesn’t use bail agents, the people standing surety are doing so for reasons other than they are paid by the accused.