What is Bond?

What is Bond?

In Indian law, a bond is a type of surety or security offered by a person requesting bail or release from imprisonment. A bond is often a written instrument that acts as a legal arrangement between the individual requesting bail (referred to as the “principal”) and a third party (the “surety”). The bond normally requires the surety to pay a certain amount to the court if the principal fails to appear for their trial or breaches the terms of their release. The bond’s objective is to guarantee that the defendant appears in court and complies with the terms of their release. In Indian law, bonds are classified into two types, namely, Personal Bonds and Surety Bonds....

What is Bail?

In India, bail is governed under the Code of Criminal Procedure, 1973. The CrPC is a comprehensive statute that oversees the methods and processes of criminal proceedings in India, including provisions for bail. A person arrested for a non-bailable offense may seek bail under the Criminal Procedure Code (CrPC). Bail is issued at the court’s discretion, depending on considerations such as the gravity of the conduct, the possibility of the prisoner fleeing, and the defendant’s criminal history. Sections 437 and 439 of the CrPC include specific provisions for providing bail for non-bailable offenses. Section 436 of the Criminal Procedure Code addresses the granting of bail for bailable offenses. Furthermore, Article 21 of the Indian Constitution ensures the “right to life and personal liberty” and includes the right to bail as a basic right....

Difference between Bond and Bail

Basis Bond Bail Meaning Bond refers to a surety bond, in which the bondholder agrees to make good any losses incurred if the defendant fails to appear in court when summoned. Bail is the provisional release of an accused person awaiting trial in exchange for a specified sum placed as security with the proper authorities to ensure their attendance in court. Paid By The bail bondsman who acts as a guarantor to the arrangement pays the bond’s consideration. Bail is paid by the defendant or someone acting on his or her behalf, such as friends or relatives. Objective The existence of a third individual in this process indicates a connection. Bail is one type of security that may be used to reassure others. Consideration Bond is permissible only if a credible third party assumes responsibility for the accused’s debt and duty. Bail is permitted for a specific consideration determined by the court. Money The fee paid for the services given is not refundable. The amount of bail is returned to the defendant at the conclusion of the trial when all court processes are completed. Cost Bond is expensive. Bail is reasonable in comparison to Bond....

Conclusion

The primary goal of arresting and detaining the accused is to guarantee that he appears in court whenever he is summoned for trial. If the accused admits to the crime and is sentenced to jail, he must be present. However, if the person under indictment can appear in court without being imprisoned, it appears unjust to detain him in police custody until it is shown that he did the crime alone. Bond and Bail are two options offered to the defendant. While monetary bonds are referred to as bail, surety bonds are known as bonds....

Difference Between Bond and Bail- FAQs

How much does regular bail cost?...