Surety Bond
A surety bond involves a contract
with a bondsman (also know as a bond agent or bail agent) for the bail amount. The bondsman, usually being underwritten by
an insurance company licensed by the state, interviews the arrested individual, family members and the final bond guarantor
prior to forming an agreement to assure that the accused will appear in court. With his money on the line, a bondsman has
a financial interest in supervising defendant`s and to make certain that they appear for trial. If a defendant fails to appear,
the bail agent has time and the financial incentive to find that individual and bring them in. Simply stated, bondsmen profit
only when the defendant shows up for trial.
Bonds are usually written for a premium percentage of the bail`s
full amount. Collateral from the guarantor is then used to secure the remaining bail amount. The bondsman guarantees to the
court that they will pay the bond forfeiture if a defendant fails to appear for their scheduled court appearances. Using the
assets and property of the bondsman`s insurance makes this guarantee.