The premium, which is what we call the bail bond fee, is currently 10% of the bond with a minimum of $100.
The collateral is valuable property or an asset that is used by the surety to secure a defendant’s release. In some cases, a collateral is not needed because of the defendant’s strong ties to the community, work history, and lack of prior arrests. Likewise, if the indemnitor has solid ties to the community, the need for collateral can be waived by the surety.
Indemnity means insurance or protection against loss. The indemnitor is the one who assumes the obligation of the surety on the loss sustained as a result of the bond. The indemnitor is the one responsible for making sure the defendant appears in court on time and every time ordered to do so.
The indemnitor is responsible for the revocation of the bond if he/she believes that the defendant is trying to avoid prosecution by attempting to leave the jurisdiction of the responsible court. The indemnitor is also responsible for advising the surety if the defendant violates any conditions set forth in the agreement. Ordinarily, there is a fee required for the surety to apprehend the defendant and return the defendant to the sheriff. Until the defendant is back in the sheriff’s custody, the indemnitor continues to be liable of the bond.
The forfeiture of the bond happens when the defendant fails to appear in court on the appointed date and time. The judge will submit a bench warrant to all law enforcement agencies for the immediate arrest of the defendant. It is important for the indemnitor and the surety that the defendant be found. If the defendant is not located and returned to the jurisdiction of the court, then the indemnitor must pay the full amount of the bond as it is his contractual obligation.
The premium is not returnable. The collateral, if any was deposited, will be returned within 21 days upon receiving the certificate of discharge, which states that the case or cases are adjudicated or closed.