A bail bond is a financial guarantee made by or on behalf of a defendant that is used to guarantee their appearance in court through the end of their trial upon release from custody. Failure by the defendant to appear will result in a bond forfeiture.
The court system will set the amount of bail required for the defendant's release. Under state law, a surety company can provide a type of insurance policy or "bond" that guarantees payment of the full bail amount to the court if the defendant does not show up for all scheduled appearances. These bonds are offered by licensed bail bond agencies. For supplying these bonds, bail agencies charge a premium - ten percent (10%) of the total bond amount. Example: for a bond amount set at $50,000, the premium would be about $5,000 plus any additional fees required by the state. The bail agency must charge the premium rate it has filed with the Department of Insurance and the premium is not refundable once the defendant is released.
This is a question best answered by a licensed bail agent. Please contact your nearest 1st Class Bail Bonds Agency.
The bond amount is the full amount of the bail that was set by the court. The premium is the dollar amount owed to the bail agency for posting the bond. This premium is 10% of the bond amount. For example, if the bond amount is $50,000, the premium owed would be $5,000.
An indemnitor/guarantor is the person(s) willing to be responsible for the defendant while they are out on bail and co-assumes financial liability to guarantee the full bond amount.
Bail bond forfeiture results when a court appearance is missed. If a defendant misses a court date, a bench warrant is issued for their arrest. The court also sets a deadline for when either the defendant must be located/returned to custody or the bail bond "reinstated" or the bail amount must be paid to the court.
If you posted the full bail amount with the court yourself, this money will be released to you at the conclusion of the court process, provided the defendant appeared at all required court dates. If you elected to use a bail agency to post your bond, the agency is initially responsible to the court for the bond amount. The defendant and indemnitors are responsible to the bail agency for the premium and any fees or additional expenses incurred by the agency on their behalf. These monies are earned at the time the defendant is released from custody and therefore not subject to return. This is the case even if the defendant is found innocent, the case is dismissed or the defendant is placed back into custody for another offense.