www.bondingoffice.com                                                                                                                                                                         Bailman Bonding 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

Collateral is required for any bond over 20 thousand dollars. It doesn't matter if the defendant has always gone to court, or not.  This is mandatory.  Bonds of $20,000.00 or more can do major damage financially to the company if the defendant fails to appear. 

Collateral is also needed on lower bonds sometimes because the defendant has a history of failing to appear.  If the defendant makes it his practice to not show up to court, we just sell the collateral when he fails to appear and pay the entire bond.  Any fees such as bounty fees, transportation fees, hotel fees, etc will also be attached to the collateral.

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 possess 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.   All collateral acquired by the Agency will be returned to the owner once all the defendant's cases have been adjudicated, the Agency has been released from further liability, and any outstanding fees or charges relating to the posting of the bond(s) (excluding court fines) have been satisfied.

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