Phone number: 484-268-5663
Call Free Collect: 610-432-1222
24 HR Service
Se Habla EspaƱol

What does collateral on a bond mean?

What does collateral on a bond mean?

Collateral bond
 

Collateral is put forward in place of or in addition to bail money in order to secure the release of an arrested person. Most of the time bail collateral takes the form of property such as real estate, mobile homes, cars, motorcycles, etc. The collateral is returned once the case is completed, whether a defendant is found innocent, the charges are dropped, the defendant is sentenced or bail is exonerated. However, if the defendant fails to appear in court upon the agreed time and date, the collateral is seized or collected either by the court or the bail bond company.