Bail vs Bond
Bail and Bond are two legal terms that are often considered interchangeable when it comes to their usages. On the other hand a person with knowledge of law can decipher the difference between the two. Bail and bond differ in certain aspects for sure.
A bail is a kind of security that has to be provided by a person who is facing trial in the court for his momentary release from prison. The security provided in bail can be in the form of money or any other form.
It is to be understood that bail is against the temporary release of a prisoner pending trial. Sometimes bail also refers the person that provides the security against the temporary release pending trial. It is quite proper to use the preposition ‘out’ after the word ‘bail’ to describe the action of temporary release of a prisoner.
‘To bail out’ means to secure the release of a prisoner on payment of bail. On the other hand a bond is a kind of restraint or a responsibility as in the expression ‘bonds of duty’. A bond is a binding engagement. It is a kind of agreement between two parties. The one who executes a bond enters into an agreement where his word is the bond. His word is the binding factor. His word is the restraint or a responsibility. This is the main difference between bail and bond.
The word interestingly has a different meaning when used in the subject of commerce. In commerce a bond is a certificate issued by a government or a public company promising to repay borrowed money at a fixed rate of interest at a specified time. It is sometimes called a debenture too. Thus the two words are to be used with care and precision.