The fee charged to post a bail bond is called the PREMIUM. The fee or premium charged in the State of Florida is 10% of the bail bond amount except a bail bond amount under one thousand dollars. A bail bond set at an amount under 1000 has a 100 dollar minimum charge.
EXAMPLE # 1: Bail bond amount- 20,000.00 FEE/PREMIUM CHARGED IS 2,000.00
EXAMPLE # 2: Bail bond amount- 500.00 FEE/PREMIUM CHARGED IS 100.00
Collateral refers to something that you pledge to the Bail Bond Company (Surety) in order to guarantee the bail bond. The collateral could be a car title, money, a home or property or could simply be the signing of a promissory note and indemnity agreement.
We require at the least that a person (more than likely a family member) SIGN a promissory note and indemnity agreement. So the answer to if you need collateral, is YES. But the collateral could be JUST YOUR SIGNATURE.
We as the bail bond agency, post a person’s bail bond in order for them not only to be released from jail but also to make sure that the person goes to court each and every time that they are suppose to until the conclusion of the case. If the person does not show up to court, a warrant is issued and the bail bond posted is FORFEITED. A forfeiture of a bail bond is a form of demand for payment from the Court which states that we, as the bail bond agency, must arrest and produce the person on bond within 60 days or else the bond MUST BE PAID.
When YOU sign as the Guarantor/Indemnitor on a bail bond, YOU are promising that YOU are going to make sure that the person on the bail bond will show up each and every time that they are suppose to. If they do not show up, YOU are promising to help locate the “FUGITIVE”, to help return them to custody. YOU ARE ALSO PROMISING, to PAY the bail bond amount if WE CAN NOT LOCATE THE PERSON OR IT IS IMPOSSIBLE TO GET THEM BACK INTO CUSTODY.
YOU are only responsible to make sure that the person on a bail bond goes to court each and every time required. Whatever happens in the case, guilty, not guilty, no action, case dismissed makes no difference. YOU are only responsible for appearances.
Contact us, and learn more about A Signature Only Bail Bonds, Inc. We would love to assist you in any way.