What is the Premium?
In Southern California, the cost of the bail bond which is called the Premium is generally 10% of the total bail amount.
For example, if bail is set at $10,000 the premium would be $1,000. This is the amount charged by the bail bond company to put up the bail bond for the full $10,000 so that your friend or family member can be released. You do not get this money back. The premium is fully earned upon the release of the accused.
What is Collateral?
Collateral is money, property, etc. that you deposit with the bail bond company. The collateral is held until the bond is exonerated and the premium has been paid in full.
What is an Indemnitor or Cosigner?
An Indemnitor or Cosigner is a person who agrees to be financially responsible for the full amount of the bail bond in the event the defendant fails to make a court appearance and cannot be returned to court. An Indemnitor is responsible for paying any bail bond costs incurred as a result of the defendant missing a court date. If there is more than one Indemnitor on a bail bond, they are jointly and severally liable. This means the money could be collected from one or both of them.
Is the bail bond premium refundable?
Once the bail bond is posted and accepted by a court or jail, the bail bond premium is fully earned and is not refundable.
How long is a bail bond good for?
At The Bail Depot Bail Bonds, a bail bond is good for the entire length of your case. Many bail agencies operate on an annual premium basis, meaning you have to pay the full premium again if your case lasts more than 12 months(called a “renewal premium”). When selecting a bail agency, always ask if they charge a renewal premium and make sure to read all of the fine print before you sign anything!
Who is liable for the bail bond?
The indemnitor (co-signer) is financially liable for the bail bond. The indemnitor’s liability is limited to the full face value of the bail bond.
If you have additional questions not answered in this page or if you want to obtain a bail bond, please feel free to call or email any time. A licensed bail agent will be happy to answer all of your questions.