When you’re preparing to become an indemnitor on a surety bond to bail someone out of jail, it is essential to understand what your responsibilities are to the bail bond agent. The duties of all parties involved will be detailed in a bail bond contract, and reviewing the contract before you sign it can help you feel more comfortable with the process. In today’s blog, we’ll review the key components that make up many standard bail bond contracts.
If you have questions about the bail bonds process, or you’re in need of affordable bail bonds services, contact Future Bail Bonds today! We provide compassionate and fast services to residents of San Bernardino and the surrounding area, and we’d love to help you!
What Does the Contract Address?
Parties to the Contract
In order for a contract to be legal, it must clearly define all parties who are bound by it, and a bail bond contract is no exception. When you’re preparing to enter into a contract with a bail bondsman, it should clearly identify the cosigner or “First Party” (you), the “Second Party” (the bondsman), and the “Defendant” (the accused).
Agreed Premium Amount and Fee Disclosure
In addition to the parties to the contract, the agreement should also specify the exact premium amount that is to be paid, along with the payment terms and expectations. It is also very common for the bail bond agent to include a fee disclosure statement that details usual and customary fees related to his or her services.
If the accused individual does not adhere to the bail conditions, or if he or she flees or fails to make it to their court date, the court may determine that the bail bond has been forfeited. To account for this possibility, the bail bond contract should include a statement that addresses the implications of this occurrence and your responsibilities as an indemnitor.
Terms of Surrender
Depending on what state your bondsman operates in, there may be specific requirements related to your assistance in surrendering the accused if the courts or the bond agent feel this is necessary or advisable. It is important to know what your expectations are with regard to this, should the situation arise.
Many times, a bail bond company will request or require collateral as a form of security for the surety bond they provide. To ensure everyone knows how the collateral will be handled in the event the bail is forfeited, the contract should include a section that addresses this very clearly. Some bondsmen will also choose to specify the collateral items in this section.
Affidavit of Truth
The contract should include a section at the end which affirms your understanding and acceptance of the terms and conditions contained within the contract. In order to be valid, this section must be signed by all parties involved, and sometimes, the bondsman may require a witness signature as well.
Finally, many bail bond agreements have a section for additional documentation. This may include financial statements from you and the defendant, as well as information related to employment, residency, criminal history and the details of the current charges.
Bail Bond Contracts
As a leading bondsman in southern California, Future Bail Bonds is here for you when you need us. If you have questions about our services or the terms of our bail bond contracts, call us today at 909-990-5700!