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888BAILMAN.com
by Bret Graham ~
"(888)BailMan"SM
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HOW BAIL BONDS
WORK!
- When a person
is arrested and placed in the custody of a jail, the bail amount
is set by either a court or by the jail personnel using a
countywide bail schedule established by the Superior Court judges.
Once a bail amount is set, either cash, a cashier's check or a
bail bond may be posted at the jail or court. After bail is
posted, the defendant is released from custody and will remain
free while the court case proceeds. Bail is posted to insure that
the defendant will appear in court each and every time he or she
is ordered to appear.
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- A"bail bond"
is an insurance bond and all bondsmen represent insurance
companies. Before posting a bail bond, I must get approval from my
insurance Underwriter. The Underwriter generally requires two
things in order to approve a bail bond. They are called the
"Premium" and the "Collateral". The Premium is the cost of the
bond and is 10% of the bail amount that was set by the jail or
court. Collateral is something of value used to financially
guarantee the bond until the defendant is done in court. The
person that pledges the Collateral is called the Indemnitor or co-signer. No
matter what the outcome of the court case (acquittal, conviction,
diversion, probation and/or fine), once the defendant is done with
all court appearances, the court will exonerate (release) the
bond. When the court "exonerates" the bond, the bail bond is done
and I release the Collateral back to the Indemnitor. Any fine,
probation, public service, etc. is strictly between the defendant
and the court.
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- Types of
Collateral
The best form of
collateral is an individual's agreement to pay represented by his or
her signature with approved credit. Additionally, collateral can be
pledged by:
- Cash
- Credit/Debit
Cards
- Real
Estate
- Motor Vehicle
Title (car, truck, van, motorcycle, RV, trailer, boat or
pwc)
- Stocks &
Bonds
Payment
Options
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