The Extra Things You Should Know Before You Contact a Bail Agent?
Besides knowing the details about the defendant’s case, it’s crucial that you understand what you’re getting yourself into by co-signing a bond agreement. Becoming someone’s Indemnitor is a serious matter that may come with financial consequences if you’re not careful. Here’s what you should know.
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Bail Bonds Are Not Free
When working with a bail bond agent, you will be paying that individual for the service he or she is providing you. How much will you pay? That all depends on the amount the judge has set the defendant’s bail to (which is why you need to know the bail amount before you call). Generally, you’ll end up paying a nonrefundable premium of about 10% of the total bail amount.
You May Need to Provide Collateral
In addition to the fee you must pay to secure a bail bond, the bond agent may also ask you to provide collateral as a guarantee. This can typically be anything of considerable value, such as the title to a vehicle, jewelry, or the deed to a property. At the conclusion of the defendant’s case, your collateral will be returned to you, provided the defendant shows up for all required court appearances.
You’ll Be Signing a Legally Binding Agreement
To get a bail bond, you must sign an indemnity agreement, and that’s non-negotiable. That agreement makes you financially liable for paying the full amount of the defendant’s bail should they violate bail by failing to appear in court as ordered. If the defendant violates other conditions of their bail agreement, those violations may also render the bail bond forfeit.