A co-signer of a bail bond is often referred to as the indemnitor in the agreement, and becoming a co-signer automatically comes with responsibilities. If you are planning on co-signing to get someone you love out of jail, you should fully understand what this means, including the risks you take if your loved one skips court.
The main responsibilities of a co-signer
When you agree to co-sign for a bail bond, you are taking on responsibilities you must be aware of and fully understand before signing your name. The first responsibility is that you will have to pay a fee to get the bail bond or pledge assets you own as collateral to cover the fee. Secondly, it is up to you to make sure the defendant appears in court on every scheduled hearing date. You are also responsible for telling the bail bond agent where the defendant is if the agent asks you or if the defendant skips town. When you sign the bail bond agreement, you are agreeing to all of these things.
The risks you take as a co-signer
If the defendant does everything right during this time, you will lose nothing from the deal except for the non-refundable fee you had to pay for the bail bond. If the defendant leaves town or simply does not appear for court, you stand to lose a lot. You will first of all lose the non-refundable deposit or collateral you used. Secondly, you could be responsible to repay the full amount of bail the court had set for this person. Because of this, you should use caution when agreeing to co-sign for a person.
The recourse you can take if you change your mind
There are times when people co-sign for loved ones and then change their mind about it. If you, at any point, decide that this was a bad idea, you could contact the bail bond agent to discuss the situation. If this happens, they may refund your fee that you had paid and cancel the agreement. The downside is that if you do this, the defendant will be returned to jail. This can be a good idea, though, if you have major suspicions that he or she will not follow through with going to court.
If you are interested in learning more about the risks and responsibilities of co-signing for a bail bond, talk to a bail bondsman today. Companies like First Choice Bail Bonds can offer more information.
Share25 July 2019
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