By now, you already know what a bail bond is all about, but what do we mean by co-signing a bail bond or who is a co-signer? A co-signer or an Indemnitor on a bail bond is a person who, by his signature, guarantees every aspect of the bond. He or she guarantees that the premium or cost of the bail bond gets fully paid. By extension, the Indemnitor or consignor also guarantees that the defendant will be present in court regularly as at when needed, and that if for any reason the defendant fails to appear in court or elude, the co-signer will help the relevant authority to locate the defendant.
In order words, when you co-sign bail bonds in Orlando, it means you are signing a promissory note financially obligating yourself to pay the entire amount of the bond if the person you have signed for fails to show up in court.
Most times, co-signing a bond involves pledging tangible assets like cars, land, home, cash, and some other things. The reason for this is that the bail bondsman will be sure to get back the money he or she has pledged to the court along with a surety bond.
Yes! Just as it is when applying for a loan, the record of previous credit dealings of a client or a co-signor is of paramount interest and a critical factor that can’t be overlooked. The reason is that good credit rating will indicate that the client or co-signer will comply with his or her side of the bargain, and will also respect and honor every bit of the agreement. The more positive your credit history, the easier and better it is to trust you.
Below are some facts that surround the co-signing of a bail bond:
Immediately you co-sign a bail bond document, you agree to a legally binding contract, so it’s important that you understand everything you read therein. The bail bond document will hold you liable for the defendant in so many ways, meaning you need to critically understand and consider the terms & conditions before attesting to the agreement.
Once you have agreed and has taken it upon thyself to co-sign the bail bond as a friend or family member on behalf of the defendant, he or she (the defendant) will be released from jail, for the time being, awaiting his or her date in court.
When you co-sign a bail bond for someone, you have assumed personal responsibility for that person. As a matter of necessity, this means you must ensure he or she appears in court anytime his or her court date comes up. The bail bond only guarantees freedom from custody while awaiting trial; the defendant is still under obligation to go to court as at when needed. If the defendant fails to show up for his or her court date, and he or she cannot be accounted for within the specified time of 180 days, then the co-signer will be held responsible.
Apart from the personal responsibility that the co-signer has undertaken on behalf of the defendant that has been released from jail, the co-signer will also assume financial responsibility on his or her behalf. That is if the defendant did not turn up to honor his or her court dates or failure to complete the payment for the entire bond; the co-signer will be liable for the payment and must be held accountable. If the defendant refuses or is unable to repay the outstanding bail bond balance, the co-signer stand the risk of losing anything he or she has put up as collateral.
The co-signer can decide to request for stipulations before he or she co-signs. The stipulation can be a requirement that the defendant undergoes a drug treatment program or take a mental health evaluation for clarity and certainty of facts.
The co-signer can decide to let go of his or her assumption of responsibility by revoking the bail bond, although subject to the approval of the court. The co-signer can withdraw itself from bail bonds in Orlando under valid excuses, such as financial insecurity, criminal charges, or the defendant being a flight risk. However, once the court grants the wishes of the co-signer and the bail bond is revoked, the defendant must return to prison custody.
If it happens that the defendant refuses to turn up for court hearings, or flees, the co-signer reserve the right to contact the bail bond agency and provide necessary information relating to the whereabouts of the defendant so that he or she can be retaken and return to jail.
If the defendant flees and refuses to appear in court or pay the balance of the bond, the bail bond company has just six months, beginning from the date of the forfeiture, to find him and get him or her back to jail. However, the co-signer can also request for additional six months from the court if they can show that progress is being made in finding and bringing back the criminal.
It is strongly advised that you should never inform the defendant concerning your plan to notify the bail bond agency, and it’s also not advisable to threaten the defendant as such act might cause the defendant to get to know what is being planned, and fleeing prematurely.
There is nothing wrong in helping a dear friend or loved one who has been arrested on criminal charges, but such good comes with responsibility, especially when standing in to secure the release of that person. Get all your questions and answers about co-signing bail bonds in Orlando. Our seasoned fugitive recovery agent will work with you to make sure everything is in order.
Call us today and let us help you in finding the best bail bonds in Orlando.