The process of bailing out a loved one who has been arrested can be confusing to most people. Terms and phrases are often bandied about loosely between judges, attorneys and bail bonds people who, because they are so familiar with the courts themselves, can sometimes forget how specialized the language of this system can be. So that you can have some clarity when becoming involved in the bail bonds system, Speedy Bail bonds in NJ would like to familiarize you with some term and words you are likely to hear us say or see in our contract.
Bond – This is a contract that assures that an accused person who has been released will return to court at a date specified by a judge. If you cannot afford the bond, a bondman will then act as the guarantor.
Bond Premium – This is the amount paid to the bail bonds agency for their services. The amount varies but is usually 10% of the total bail amount.
Collateral – This is something of value that is put forth as a guarantee that the accused will meet the conditions of his/her bond agreement. If he/she does not then that item is forfeit.
Failure to Appear – This is a charge that a judge can bring against a defendant who has failed to appear for court.
Indemnitor – This is someone who cosigns the bond guaranteeing that the defendant will show up for trial as ordered. Defendants should consider the consequences of not showing up for trial as it may adversely affect the cosigner of the bond.
People who are under arrest or who are attempting to bail someone out of jail should not also have to deal with the opacity of the court system. That is why at Speedy Bail Bonds in New Jersey we stand ready to help those who need clarification about the process and who also need an explanation of the words and terms used in the court system.