Phoenix Bail Bonds - What is a Cash Bond?
Video discussing what a cash bail bond is and why the court assigns a cash bond.
A cash bond, or cash only bail bond, is one of the 5 different types of bonds that an Arizona court may issue. A cash bond is just as it sounds; only cash would be accepted for the bond. The Arizona Rules of Criminal Procedure defines a cash bond as a secured appearance bond consisting of actual cash deposited by the defendant or someone acting on the defendant’s behalf. Cash bonds act as a financial guarantee that the defendant appears for each hearing. Once the case has been adjudicated, the bond is returned to the poster. If the defendant fails to appear for each of their hearings, or fails to abide by their conditions of release, the bond may be forfeited.
The court assigns cash bail bonds for a variety of reasons, including: failure to pay fines, failure to appear for a hearing, for unpaid child support, or because the charges are particularly severe and the defendant is considered a flight risk. Most cash bonds can get converted to a Surety bond, with the help of an attorney. As with any bond, as long as the defendant attends all of their hearings and abides by their conditions of release, the bond would be returned to the poster. Exceptions to a total refund would be on cases that involve unpaid Child Support, Failures to Pay a fine, or if the defendant failed to appear for his hearings and the bond got forfeited.
Payment of a cash bond can be made at either the court or jail. Many Arizona jails will not accept a cashier’s check, credit card, or money order for cash bonds and some courts have the same restrictions; please call the jail or court for their specific requirements. When cash bail is set at $10,000 or more you will be required to fill out an IRS 8300 form, all cash transactions over $10,000 must be reported to the IRS.
Phoenix Bail Bonds specializes in cash bonds; in fact, 98% of the bonds we post are paid in cash. We have two requirements for every cash bond we post. The first and most important requirement is collateral. Collateral must be equal to, or greater than the bail amount. Collateral is returned upon exoneration. The second requirement is the fee. The fee is non-refundable and the amount is dependent on what you are using for collateral. We take care of everything, including, posting the bond, filing the IRS 8300 form if necessary, and returning your refund once the bond has been exonerated.
Please call us for a full explanation of the cash bond process and quote. You may reach us at: 602-267-9057
https://phoenixbailbonds.co/
