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Area
Bail
Bonds Collateral information page
What Collateral is used for
Collateral is used to guarantee that the Agency won't lose money
when the defendant fails to appear. Also if it's necessary to
physically return the defendant to jail, it would guarantee bounty
fees, travel expenses, vehicle expenses, and basically anything else
that we have to pay out in order to return the defendant. Collateral
is also used for full payment of the premium if credit or payment
terms are accepted.
When it is needed
If the defendant makes it his usual business to run from the law,
(fail to appear) All Area Bail Bonds will require collateral for the
full amount of the bond which is returnable to the co signer after
the case is disposed of AND there are no fees, or premium left to
pay to the agency.
Collateral is ALWAYS needed to secure a bond over $20,000.00 .
What can be used as collateral
Basically, any legal item or items that can be sold easily and
promptly upon a Bond Forfeiture Judgement order can be used as
collateral. The most popular type of collateral are clear titles to
vehicles, firearms, property deeds with enough equity to cover the
entire bond, and businesses. These are not the only things we will
accept, they are just the ones we like the most. Note that in
some instances, we may have to physically take possession of the
collateral. The collateral is refundable after a disposition
in the case is rendered and there are no outstanding charges due to
the company. Visa, Mastercard, AMEX, Discover, and cash are
also accepted as collateral. The Bail Bondsman reserves the
right to inspect the collateral. (if needed)
If real property (Real Estate) or Vehicle collateral is to be used,
The collateral shall be properly titled in the Owner's name.
We will not accept certain types of collateral such as:
illegal drugs, prostitution services, Bitcoin (or like currency),
human beings, animals, services, forgeries, or anything stolen, or
embezzled. We also will not accept collateral that would be
problematic to sell in a timely manner. An example would be
Vehicle titles in someone else s name, no title, or a vehicle title
that show a leinholder. If Real Estate collateral is used,
proof of ownership will be required. The Agent will provide
the form to be used and a collateral contract.