What are some of the things I should be aware of before cosigning a bail bond contractual agreement?
The following is information you should know before consigning a bail bond:
- The contract is binding until the case is fully disposed.
- If the defendant stops paying, the payment will fall on you.
- If the defendant fails to appear in court, the financial penalty will fall on you
- The indemnity agreement is enforceable in court.
The bond is not limited to the first court appearance but remains in effect and binding throughout all the stages of the trial which may take days, weeks, months or even years.
If the defendant stops paying their bail bond payment, the payment will be your responsibility as the cosigner.
The cosigner will be obligated for the full amount of the bail if the bond is forfeited as a result of the defendant failing to appear in court.
Outstanding civil judgments against a cosigner resulting from defaulted bail bond contracts can have a negative impact on the cosigner’s job. It can also complicate renewal of a professional license, result in the seizure of personal property and can eventually become a lien against real property.