To post a non-refundable bond

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NicolaAlocin

Senior Member
Italian
Hi!
Do you know what is the meaning of "to post a non-refundable bond"?

Context:
We are talking about the fact that during the late 80's, law enforcement agencies used to confiscate a lot of assets from suspected criminals. This is what the defendants could do:

"The process was costly and protracted; the victims had only 20 days from the date of seizure to post a non-refundable bond worth 10 percent of the value of the property seized."

Thanks
n.
 
  • Gordonedi

    Senior Member
    UK (Scotland) English
    Ciao, NicolaAlocin.
    I am not thoroughly familiar with the process you have outlined, but I have seen similar arrangements elsewhere.

    In order to have their property returned to them, suspected criminals deposited ("posted" but nothing to do with the mail system) a sum of money (or sometimes a guarantee from someone else) equal to 10% of the value of the property seized.

    The terms of the deposit were written in a "bond". The fact that it was non-returnable is clearly being emphasised in your source - even if found innocent of all wrong, the money might still be lost.
     
    Last edited:

    NicolaAlocin

    Senior Member
    Italian
    Ciao, NicolaAlocin.
    I am not thoroughly familiar with the process you have outlined, but I have seen similar arrangements elsewhere.

    In order to have their property returned to them, suspected criminals deposited ("posted" but nothing to do with the mail system) a sum of money (or sometimes a guarantee from someone else) equal to 10% of the value of the property seized.

    The terms of the deposit were written in a "bond". The fact that it was non-returnable is clearly being emphasised in your source - even if found innocent of all wrong, the money might still be lost.
    Thank you very much, your explanation is really clear
     
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