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Examples of Cash bond in a sentence Cash bond and securities will be released to the applicant when permit is finalized. Cash bond or other negotiable securities acceptable and assigned to the City of Plymouth is posted with the Board of Works in lieu of the performance bond.
Cash Bonds For a cash bond, the principal passes cash to a third party. This money is held in reserve until the principal performs the services or delivers the goods satisfactorily to the obligee.
A cash bond is cash held as a guarantee of payment. When you bail someone out of jail the easiest option is to post the full amount in cash. If you post bail with cash the bond court holds the full amount to ensure you show up for your court date. Cash is the guarantee of payment and it is very cut and dry.
1. Robert Durst - $3 billion. In 2016, real estate heir Robert Durst was arrested in Louisiana on charges of first-degree murder in the death of his friend Susan Berman. The judge set his bail at a massive $3 billion, one of the largest bail bonds ever recorded.
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