Bail Bonds Frequently Asked Questions
1What is a bail bond?
A bail bond is any person or corporation which will act as a surety and pledge money or property as bail for the appearance of a criminal defendant in court.
2What is the difference between bond amount & bond premium?
The bond amount is the full amount of the bail that was set by the court. The premium is the dollar amount owed to the bail agency for posting the bond. Usually this premium is 10% of the bond amount.
3 Who is a indemnitor/guarantor?
An indemnitor/guarantor is an individual, usually a friend or family member of the defendant, who agrees to indemnify the bail agent against a loss and they co-assumes financial liability to guarantee the full bond amount.
4 When is a bail bond forfeiture?
Bail bond forfeiture results when a court appearance is missed. If a defendant misses a court date, a bench warrant is issued for their arrest. The court also sets a deadline for when either the defendant must be located/returned to custody or the bail bond "reinstated" or the bail amount must be paid to the court.
5What is a bail bond exoneration?
A bail bond is exonerated when the legal process has finished. It does not matter whether the defendant is found guilty or innocent or the case dismissed. Any unpaid premium, fees or charges incurred by the bail agency on your behalf are still owed to that agency.
6What is a summary judgement?
A summary judgment is issued by the court following a bond forfeiture. It happens when the person misses their court appearance for example and this is a judgment against the surety for payment of the bond amount. The summary judgment is issued because the deadline for reinstating the bond or returning the defendant to custody has passed.
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