Before you agree to a bail bond company and their payment plan they set you up on, you’re going to want to know and be very well versed with the following common terms that are associated with bail and bail bonds. By knowing and understanding these following terms, understanding the bail process and how that works will be even easier.
- Bail Conditions – these are based on the understanding that the defendant is freed and pays bail on time. Conditions will always include the need to show up in court, but can also include travel restrictions, regular check-ins with a law enforcement officer or a bail bail agent, and others. Bail conditions are applied to a bail bond and must be obeyed, or there will be consequences.
- Premium – this is the term given to the payments you must make to the bail bond company. The company will charge you 10-15% of the full bail amount, and this is called the premium.
- Surety Bond – this is an agreement made between the defendant, the court, and the bail bail agent. A bail bond falls under the surety bond category in that in order to release a defendant from jail, the defendant will pay the premium to the bail bond company. The bail bond company will support with insurance.
- Cosigner – also known as a bond indemnitor, this person agrees to take responsibility for the defendant and makes sure they go to their court appointments. They will pledge collateral for security and if they fail, they will have to forfeit payment and collateral.
- Own Recognizance – some defendants are released from jail without the need of paying for bail. They sign their promise to show up in court. However if they don’t they do face consequences.
These are some of the more common bail bond associated terms but of course, there is more to the list. Your Newport Beach Bail Bond Store bail agent will be sure to go over everything you need to know before you agree and sign anything. We’re great to work with and we’re eager to help you out during this stressful time. Rely on us.