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THE SURETY BOND
The surety bond is an alternative to cash bail. The process involves a contractual undertaking guaranteed by an admitted insurance company having adequate assets to satisfy the face value of the bonds. This guarantee assures the court that the bail agent will pay the bond forfeiture if the defendant fails to appear for their scheduled court appearances. The bail agent's guarantee is made through a surety company.
For this service, the defendant is charged a premium. The premium set by the state is 10% and is nonrefundable. Prior to posting of a surety bond, the bail agent undertakes a detailed interview of the proposed guarantor of the surety bond, as well as the defendant, as part of the underwriting procedure for the bond.
By involving the family and friends, as well as through the acceptance of collateral, the bail agent can be reasonably assured that an individual released on a surety bond will appear at their appointed court dates. After this procedure is concluded, if an agreement is reached, the bail agent posts a bond for the amount of the bail, to guarantee the defendant's return to court.
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