There are several terms associated with bail bonds. If you ever get arrested, it is good to know the common bail bond terminologies to better understand the bond process. This article gives an overview of some of the common bail bond terminologies.
Bail -It refers to the money the defendant has to pay to the court or the bail agent in order to get out of jail.
Bail bond - It is a written document or contract with the court, duly signed by the 'Surety' to secure the defendant’s release from custody; and to guarantee his/her appearance in court.
Bond - It is a contract with specific dates of the court hearing and the amount of bail that a defendant must pay to the bail bond agent.
Collateral - Collateral refers to the goods or property that is posted with the bail agent to secure the bond. Once a defendant’s case is exonerated, all collateral is released. Common items used as collateral are cars, house, jewelry, electronic gadgets, etc.
Defendant - A defendant is a person who is accused of a crime and who needs help getting bailed out of jail.
Forfeiture - When a defendant fails to appear for court hearings while on a surety bond; the court declares a bond forfeiture and orders for the full amount of the bond to be paid, or the defendant returned to custody.
Surety - Surety can be the insurance company, bail agent and/or the co-signer on a bail bond that guarantees the defendant’s appearance in court.
Co-signer - A co-signer is a person that guarantees both personally and financially the appearance of the defendant in court to the bail agent.
Exoneration - Exoneration takes place when the bail bond company and the co-signer are released from the bail bond guarantee; usually when the defendant is sentenced.
Premium - It is an amount of money that the bail agent requires to secure the release of a defendant. This amount can vary depending on the seriousness of the case and the stability of the defendant.
Indemnitor - An indemnitor is a person that takes responsibility for the defendant accused of a crime by signing documents, as well as paying the entire bail amount to the court or bail bondsman. The indemnitor is also known as a co-signer or surety.
Need a Bail Bond Service? Contact Apple Bail Bonds
If your loved one is in jail and you are looking for a company that provides bail bond services, contact Apple Bail Bonds. We provide bail bondsman services throughout Allentown, PA. Every bail bondsmen at Apple Bail Bonds promises to keep all information strictly confidential. Call us toll-free at (610) 432-1222 or email at email@example.com for more information on how our bail bondsman services can help you.