How Do You Get Out Of A Bail Bond Contract?
You've been arrested and need to get out of jail, but you can't afford to pay the bail. The amount of money required for bail can be thousands of dollars, more than most people have on hand. But what happens if you decide you want out of the contract? Can you get out of a bail bond contract?
What is a Bail Bond?
A bail bond is a contract between the court, the defendant, and a bail bond company. The bail bond company agrees to pay the full bail amount to the court if the defendant fails to appear for their scheduled court appearances. In return, the defendant pays the bail bond company like Didn't Do It Bail Bonds a non-refundable fee (usually 10% of the bail amount).
The bail bond company is then responsible for making sure the defendant appears in court. If the defendant does not show up, the bail bond company will be required to pay the full bail amount to the court.
In order to sign the contract and post bail, the bail bond company will usually require some form of collateral from the defendant. This collateral is used to secure the bond and can be in the form of property, cash, real estate or titles for vehicles.
The indemnitor is the person who signs the bail bond contract and agrees to be responsible for making sure the defendant appears in court. The indemnitor is also responsible for paying any fees associated with the bail bond, as well as any additional costs incurred if the defendant fails to appear in court.
Cancelling a Bail Bond Contract
When you sign a contract for a bail bond, you are agreeing to be responsible for the full bail amount if the defendant fails to appear in court. This means that you are financially responsible for the bail bond company if the defendant does not show up.
The only way to be released from this financial responsibility is if the bail bond company cancels the contract. This is not common and is very unlikely to happen.
The only other way to be released from the contract is if the court case is closed and the bail bond is no longer binding. This usually happens when the defendant has fulfilled all their court responsibilities.
Becoming an Indemnitor
If a bail bond is posted, the individual who signs and secures the collateral is known as the Indemnitor. The Indemnitor is in charge of any person who does not attend court. This might include attending numerous hearings, and missing one can result in significant expenses and penalties to track down the individual.
The Indemnitor would lose any collateral put up for the bond if the defendant does not keep his court appearances. This might be a car, a house, real estate, or other types of security accepted by the bail bondsman.
What To Do If You Can't Make Your Bail Bond Payments?
If you are struggling to make your bail bond payments, you may be able to negotiate a payment plan with the bail bond company. However, if you default on the payments, you may be subject to legal action.
It is important to remember that you are responsible for the full bail amount if the defendant fails to appear in court. This means that you are financially responsible for the bail bond company if the defendant does not show up.
Making sure you hire the right bail bond company and understanding the contract are essential to avoid any problems with making your bail bond payments.
The Right Bail Bonds Company
Didn't Do It Bail Bonds is one of the leading bail bond companies that service the Phoenix, Arizona areas. We're a fully licensed by the Arizona Department of Insurance and have been helping people with their bail bonds for over 6 years.
Our team is available 24/7 to help you with anything you need, and we'll work with you to create a payment plan that fits your budget. Contact us today
Talk to the professionals at Didn't Do It Bail Bonds for more information on bail bonds. Call us at 602-626-5214 with any questions you may have.
My name is Darrel Luth and I am the proud owner of Didn't Do It Bail Bonds. I am a retired Marine and served my Country proudly. I have been in the bail bond business for over 6 years and am one of the most successful bail bondsmen in Arizona. I attribute my success to hard work, integrity, and treating my clients with respect.