Before you commit yourself to helping a friend get out of jail by agreeing to cosign his bail agreement you should know what may be expected of you. The amount of bail will be determined by the court and will depend in part on the seriousness of the alleged crime. Flight risk or a criminal record will also factor in. If the judge sets the bail at $10,000.00 or over the bail bond agency will mostly likely require some sort of collateral along with the typical 10% fee.
Collateral as it relates to bail refers to an asset that is worth as much or more that the bail amount itself. It can come in the form of money, jewelry, property or any valuable commodity that you own. The way it works is that you hand over your belonging to the bail agency and they put it in a place of safekeeping until the case has been resolved. If things go as expected and the defendant appears for all court hearings leading up to and including his trial the collateral will be returned to you The outcome of the trial is not a consideration.
Property is a common source of collateral. If you choose it you will need to provide the bail agency with proof of ownership e.g., a deed to the property, and you will be asked to sign what is known as a Declaration of Trust of Real Estate to Secure Performance of a Bail Bond stating the value of the property, its location and any legal claims associated with your ownership.
Consider the level of your risk. You don’t have to be convinced of the defendant’s innocence but it is important that you can trust him to have your best interests at heart and comply with court orders to appear.
BWB Bail Bonds provide statewide services. Don’t hesitate to take advantage of the “click-to-call” option on the website, www.bwbbailbonds.com. Representatives are available 24/7 to take your call and act on your behalf.