A Bond Agency May Require Collateral

When a bail bond agency takes on a client the agency accepts the responsibility of seeing to it that their client adheres to the guidelines of his release. The most essential factor behind the concept of bail is to allow the accused the opportunity to get on with his life while he is waiting to be tried for his crime in a court of law. There may be any number of regulations assigned by the judge as a condition of bail, but the bottom line is always going to be that the defendant must return to the court for preliminary hearings leading up to the trial and of course for the trial date itself.

If for whatever reason a client reneges on his promise to the court, the bail agency that represents him may be held liable. As a precaution against this happening the agency may require some form of collateral aside from their initial fee. The value of a property or possession put up as collateral must equal the agency’s investment. Asking for collateral is not unusual in most cases. Not only does it protect the monetary interests of the bond agency but it also serves as an incentive for the indemnitor to want to keep tabs on the defendant as well. The defendant will usually be more likely to tow the line if someone he cares about is at risk.

Property used as collateral may be in the form of a house or an acreage. The only stipulations are that it be owned outright with no liens against it. If it is under mortgage the indemnitor will need to produce the appropriate documentation from his financial institution. The bond agency will hold the deed until the criminal case has been closed.

Though it is somewhat less common, some bond agencies may accept a credit card but not in the usual sense. In these cases the cardholder will give documented permission for the agency to use the card to cover costs incurred if the defendant fails to appear.

You can speak personally to an agent at BWB Bail Bonds in Denver by calling 720-358-2908, or click on the “call us now” feature offered on the website, www.bwbbailbonds.com.

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