What You Need to Know Before Signing a Bail Bond Contract
When a friend or a loved one is arrested for a crime, you may feel inclined to post bail for them. Even though you want to get your friend or loved one out of jail right away, signing a bail bond comes with some serious obligations. At A Way Out Bail Bonds, we recommend that you learn what your obligations are before you sign a bail bond contract.
Bail Bond Obligations
A bail bond is like an insurance policy that is secured with cash, certified funds, credit card, and or assets. By signing this insurance policy, you will ensure that the defendant honors his or her obligation to the court regarding his or her recent arrest, which is to show up to every scheduled court date on time. Depending on the bail amount that was set by the judge, it is possible for you to pay only a percentage (premium) of the complete bail amount to get your loved one out of jail. Once you sign a bail bond contract, you are legally assuming the following responsibilities:
• If for any reason the defendant is late to court, you risk losing your bail money.
• If the defendant misses a court date or never appears to court, you will forfeit the premium that you paid to get them out. You will also be required to pay additional fees as assessed by the Dallas bail bonds company in order for them to locate the defendant.
• If the defendant cannot be located, you are legally required to pay the total amount of bail that was originally set forth by the judge during the bail hearing. For example, if the bail was originally set at $50,000 and the bond only required that you pay ten percent, once the defendant absconds, you have to pay the complete $50,000.
• If you used your home, car, or some other type of assets to help secure the bail bond contract, those assets will be seized by the court to satisfy that debt.