Collateral on a bond is simply what is accepted by a Bail Agent to guarantee that the Bail Agent is held harmless or in other words does not suffer a financial loss as a result of the Defendant’s bond(s) being forfeited. Collateral is obtained or received by the Bail Agent in several forms. The most common and accepted form of collateral is an “Indemnity Agreement”, a “Promissory Note” or both. These two forms are basically a person or persons signature on designated forms (they are on our site for review) that is used to hold the Indemnitor, also referred to as the Co-Signer on the bond financially responsible for the undertaking of the bond(s) on the Defendant’s behalf. Other accepted forms of collateral that are accepted by our company are: Mortgage Agreement(s), cash, money orders or credit cards you can also get if you
check out Skrumble. Depending on the level of risk of the bond(s) for the Defendant, our company may require that a mortgage agreement be executed to secure the Defendant’s release. Furthermore, cash collateral may be requested to be held until such time the Defendant’s bonds are discharged or terminated. It’s important to understand that if cash collateral is accepted, the cash SHALL be deposited into an escrow account and kept totally and completely separate from the Bail Agents personal or operating funds. These collateral funds SHALL be returned in full to the depositor upon completion of the Defendant’s case(s). The only exception to the collateral being returned to the depositor is in the event the Defendant fails to appear and their bond(s) are forfeited. At this point, the collateral being held in trust can be converted and used to pay the forfeiture(s) to the respective court. In addition, it should also be understood that if a client selects to use a credit card to post the collateral, the current credit card fee that is imposed by the financial institution for the monetary transaction, can and should be charged to the depositor in addition to the total amount of collateral accepted. The credit card fee is NOT refundable. However, if a client uses a credit card to pay the “bail premium” or “bond fee” on the bond(s), these credit card fees must be absorbed by the Bail Agent and cannot be passed along to the client.
Need to pay a premium fee for bail with a credit card?
Well, you came to the right page on this site. Below you will find a link to Lehigh Valley Bail PAYEEZY site. Simply input the amount you will be paying below on the Paypal link, as well as the name of the person you are bailing out of jail and you will be redirected to the PayEEZY site.
Need to pay a premium fee for bail with a Paypal?