What is a Bail Bond?
A bail bond is contractual arrangement where in exchange for a fee, a bondsman pledges the entire amount required for bail to secure the release of the person in custody.
What happens after a person is arrested?
The arrestee is fingerprinted, photographed and relieved of their personal belongings (a process known as “booking”). Following booking, they are taken to criminal magistrate who determines the bail and/or other Conditions of Release before being placed in a holding cell. Depending on the offense, an arrestee may be subject to a chemical analysis or a “hold period”, as is the case with D.U.I./D.W.I. and Domestic Violence offenses respectively . In most cases bail is set within a few hours of arrest.
What is the purpose of bail?
Bail bonds are money paid to the court as a guarantee a defendant appears in court as scheduled.
What is collateral? Will I need it?
Collateral related to a bail bond is the pledge of specific money or property to secure the fulfillment financial obligation in addition to the 15%. Collateral is separate from, and in excess of the 15% bond fee but IS returned or discharged upon fulfillment of the obligation. The most common form of collateral used is a signed Indemnity Agreement. In certain situations collateral may be a vehicle or real property. The important distinction to make is that Collateral is returned after the case, the Bond Fee is not. At Off The Hook, bail bonds are quick and simple. In most cases, the only collateral needed is a signed piece of paper!
What is the role of Indemnitor or Cosigner on a bail bond?
It’s a standard industry practice for bail agencies to require an indemnitor or co-signer for every bond. This person is usually a friend or family member of the defendant and shares contractual risk with the bondsman for the appearance of the principal in court. At Off The Hook Bail Bonds the co-signer must be a responsible adult at least 21 years old.
What happens when a bail bond is forfeited?
Under conditions of the forfeiture process, if the defendant fails to appear in court, the bail agent is required to pick-up and return the defendant to jail or to pay the full face amount of the bond as a penalty for failing to produce the defendant.
What happens to the money collected from a bail bond forfeiture?
Bond forfeitures, per the North Carolina state constitution, go to fund the free public schools of the state.