Most people usually don’t have the slightest understanding of how the bail bond process works until they or someone they know gets arrested. As a result, there is an added stress associated with the entire ordeal. For one, the accused will have to go through the arrest process with the police and face a judge. If bail is granted, they will need to come up with the money to be released. If you decide to get in touch with a bondsman in Denver, understanding some key terms will help makes the process run seamlessly.
Here are some common bail bond terms worth knowing before contacting a bail bond company.
Bond Premium
A bond premium is the amount of money a defendant has to pay to a bail bond company to be released from jail. This is typically 10-15% of the total bail amount.
Collateral
Collateral is typically a form of property or assets used to secure a bail bond. If the defendant fails to appear to a court hearing, the assets and property posted may be forfeited.
Forfeiture
Forfeiture of bail happens when the defendant violates the conditions of bail by not complying with court orders and missing court appearances.
Bail Conditions
When you are released on bail, you will be required to follow certain conditions such as appearance in court hearings or staying in your neighborhood at all times.
Bond Indemnitor/Guarantor
A Bond Indemnitor or bond guarantor is a person, usually a family or close acquaintance, that agrees to co-sign on a bail bond agreement. This means the Bond Indemnitor is responsible for the defendant’s appearance in his or her court hearings.
Fugitive
A fugitive is someone who is actively evading the authorities after being charged with a crime. If someone has been released but violates the bail bond conditions, he will become a fugitive if he evades the police or bond recovery agent tasked to locate him.
Bond Recovery Agent
Bond recovery agents, also known as bounty hunters, are hired people who are tasked to locate and retrieve fugitives who are evading their court hearings or trial.
Exonerated
If all conditions of bail have been met in full, the full amount of bail is then returned to the bail bond company or individual. This is what it means when the bail is exonerated.
Bail Bond Reinstatement
If a defendant has a previously forfeited bail bond due to circumstances such as non-appearance to court, you can reach out to a bondsman in Denver to help you request the court to have your bond reinstated. If the court accepts the explanation of the circumstances, the judge will allow the bail bond reinstatement.
Bail Bond Surrender
A bail bond surrender happens when a bond indemnitor or guarantor decides to relieve himself from the financial obligation to the bail bond agency and responsibility to the defendant. The indemnitor must meet with the bondsman first to discuss the reasons and possible terms for surrendering. Until a new bond agreement has been successfully arranged, the defendant will have to return to jail.