Being arrested and thrown in jail is perhaps one of the most traumatic experiences anyone could ever encounter. However, with prompt action and the help of a licensed bail bondsman, you can regain your freedom within the shortest time possible. However, posting bail can be quite daunting, especially when you need to familiarize yourself with the various legal terminologies.
In this blog post, we’ll dive deep into the various bail bond jargon you need to be familiar with, especially when searching for a reputable bail bonds agent in Indiana. Read on to learn more.
Bail
Bail is the amount paid to the court to guarantee the defendant’s return for their scheduled court appearance.
Bail Bond
A bail bond guarantees a defendant will appear in court for their scheduled hearing. Bail bonds are typically posted by a bail bond company or a friend or family member of the defendant. If the defendant fails to appear in court, the bail bond company will be responsible for paying the full bail amount to the court.
Bail Bondsman
A bail bondsman service is a bail bond company licensed to provide financial assistance to people who have been arrested and need to post bail in Indiana. The bail bond agent works as an intermediary between the defendant and the court, often providing a surety bond to secure the defendant’s release.
Collateral
Collateral is an asset that the defendant provides to the bail bond agent as a guarantee to secure a bond. This is often in the form of real estate, vehicles, cash, and other valuable items that can be liquidated if the defendant fails to appear in court.
Indemnitor
An Indemnitor is an individual who agrees to be financially responsible for another person’s debt or obligation. In the context of bail bonds, an indemnitor is typically a friend or family member of the defendant who agrees to pay the bail bond company if the defendant fails to appear in court.
Forfeiture
Forfeiture occurs when a person fails to meet their obligations under a contract and, as a result, loses their right to whatever they have pledged as collateral. In the context of bail bonds, forfeiture typically occurs when a defendant fails to appear in court, and their collateral is forfeited to the bail bond company.
Co-Signer
A co-signer is a person who signs a bail bond contract alongside the defendant, agreeing to pay the full bail amount if the defendant fails to appear in court.
Bail Schedule
A bail schedule is a predetermined list of bail amounts for various crimes as determined by the court.
Bail Hearing
A bail hearing is a court appearance where a judge determines the bail amount for a defendant.
Premium
The premium is the fee charged by a bail bond company for posting a bail bond on behalf of a defendant.
Final Thoughts
The bail bond industry can be tricky to navigate, especially if you need to familiarize yourself with the legal terminologies used. However, now that you’ve gained a deeper insight into the various jargon used in the industry, you can make informed decisions when finding a reputable and licensed bail bondsman to help you get out of jail. Always ask for a detailed explanation of any legal jargon you need help understanding, and be sure to work with an experienced and licensed bail bond agent. DeLaughter Bail Bonds provides quick bail bond services to help you with your case. Get in touch us today for more information about on bail bond services.
