Definition - What does Peace Bond mean?
A peace bond is a type of bond that is offered to persons with no prior convictions on lesser criminal cases. It allows for the person to leave jail without paying any money toward bond, and in return, the person agrees to show up at the court hearing voluntarily.
If a person breaks their peace bond, a warrant will be issued and they will not be able to have a peace bond again.
Justipedia explains Peace Bond
In cases where a person of sound character has committed a crime that is accidental and unlikely to recur, the person is trusted to be released from jail. They are arraigned until the court hearing without the need to enter into a contract with a bail bondsman and come up with surety for their release.