About Bail Bonds

A bail bond is a form of bail payment provided by a bail bond agent on a defendant’s behalf. Bail bond agents, also known as bondsmen, are people in the business of paying a bond on behalf of criminal defendants. When defendants use a bail bond agent, they pay the agent a fee, and the agent acts as a surety, telling the court that they (the bond agents) will pay the full bond amount should the defendant fail to appear in court.

Bail bond agents make money by collecting fees from those who want to be bailed out. Typically, that fee is 10% to 15% of the bail amount. So, if a court sets a defendant’s bail at $10,000, that defendant (or someone acting on the defendant’s behalf) can pay a bail bond agent $1,000, and the bond agent will act as a surety on the defendant’s behalf.

Like secured or property bonds, bail bond agents typically require the defendant or the paying party to provide collateral or some other form of security against the bond. (They also require that the defendant sign a contract stating the terms of the agreement.) For example, a bond agent may require the defendant to physically give the bond agent pieces of jewelry that the bond agent can sell to recover the full bond amount if the defendant fails to appear in court. Similarly, the bond agent might require the defendant, or someone else, to sign a security interest in a car, home, or other piece of property that the bond agent can repossess if the defendant fails to appear.

In the event, that the collateral does not cover the cost of the full amount of the bond if the defendant does not appear. The defendant and/or the cosigner must cover the full amount paid to the court by the bondsman.

The fee that is paid to the bondsman is called the “Bond Premium”. The bond premium is a non-refundable fee.

There may be additional fees that have to be paid. Such as, in Wyoming a bondsman may have to travel a long distance to bond a defendant out of jail. Therefore, there may be a travel fee. The travel fee is also non-refundable. Other fees include but are not limited to GPS and Alcohol monitoring and Bail Enforcement fees. These fees are also non-refundable. If a defendant does not appear in court, an attempt to apprehend the defendant will be made to return them to court. The cost of the defendant’s recovery shall be covered by the defendant and/or the cosigner.

A cosigner is referred to as an indemnitor.

What Is an Indemnitor?

An indemnitor is a company or person agreeing to take on the obligation that would typically be placed on a surety if an individual defaults on a bond issued to him. If the applicant doesn’t qualify for reasons of risk by the surety standards, an indemnitor might be necessary for the bond process. Many people mix up the words “indemnitor” and “indemnitee,” which can cause confusion.

When a contract specifies that either of the involved parties could be subject to indemnification claims, it’s essential to understand the differences between indemnitor and indemnitee. These can’t be replaced with standard alternatives for defined terms in the party name.

You could use the phrase “indemnifying party,” but “indemnified party” sounds awkward because it’s standard procedure for a given party and also its representatives and affiliates to be entitled to indemnification. Describing all members of the broader groups as “parties” would make the documentation more confusing.

An indemnitor, also called a guarantor, is a person or group of people agreeing to cosign for the bail bond of a defendant through a company that offers bail bonds, such as an underwriter or agent. The process of cosigning on a bond is referred to as indemnification. By cosigning, the indemnitor takes responsibility for the repayment of the amount owed to the bail bond agent if the defendant skips bail or fails to appear when required to be in court. An indemnitor is usually a coworker, family member, or friend of the defendant.

Before someone is eligible to cosign for a bail bond, the agency will ask specific questions to ensure they are financially liable for the bond. This process might include running a credit check to verify the answers provided by the potential indemnitor. Upon approval, the indemnitor will meet with the agent at the bail bond company, complete all required documents, and pay any necessary fees. The final step in the process is bailing the defendant out of jail.

To qualify as a cosigner or indemnitor, an individual or group must show proof of their financial capability to repay the full bond amount. This will be required if the defendant doesn’t meet the obligations. The indemnitor assumes full financial liability for the bond amount until the defendant is either sentenced on or acquitted of all charges.