A Bondsman provides a loan for bail. The defendant, their friends or family must pay the bondsman 10% of the total bail amount for taking out this loan. This 10% is the bondsman’s non-refundable fee.
Co-signer of a Bail Bond
A co-signor is usually a relative or friend who promises to pay the entire amount of the bail (reimbursing the bondsman for the surety bond) if the defendant does not show up for court hearings. The Bondsman is a surety to court, and the co-signor is a surety to the bondsman.
What is Collateral in a Bail Bond?
A Bondsman often requires collateral in addition to 10% of the total bail. Collateral is returned to whoever provided it once the case is concluded and the surety bond is dissolved. Collateral can be a plot, a house, a business, stocks or bonds, a life insurance policy, a vehicle, cash or even jewelry. Some bondsmen will only accept liens on land or houses. It is important to understand that collateral is forfeited if the defendant skips town. For example, if someone’s house is put up as collateral and the defendant disappears, the house can be seized.
What If the Defendant Does Not Turn Up for Court Hearings?
If the defendant fails to arrive in court on trial day, the bondsman can hire a bounty hunter to track down the defendant and has a right to sue the defendant for money that was given to the court for the defendant’s bail bond. The bail bond agency may also recover any unpaid money by claiming assets that were owned by the defendant or those individuals that signed a contract to financially assist the defendant.
The “Must” Check Factors!
If you ever encounter a scenario where you need a bail bondsman, check that the bondsman is licensed by the state in which he is operating. If the bondsman’s license number is not provided on his business card or paperwork, ask to see the license before doing business. Make sure to read and keep copies of all the paperwork, especially the signed documents.
Call Us When You Need a Bail Bondsman!
If you or a loved one is in jail and in need of a bondsman’s help, call Apple bail bonds at 484-268-5663. We understand how it feels to be in jail or see a loved one in jail and we can help.