What is an indemnitor or Co-Signer?

by WebMaster on June 17, 2011

Indemnitor / Co-Signer

A bail bond guarantees one thing with the court:
1.) The defendant will appear in court EACH and EVERY time until ALL court appearances are complete!
The primary reason for co-signing for a bail bond is obligating one’s self to reimburse the bail bond company. The financial obligation is for the full amount of the bail bond pledged to the court in the event the defendant neglects to appear for all court appearances and the court keeps the bail bond money as the penalty for the defendant’s breaching contract. Before a bail bond is given for a defendant’s release, a bail bond application must be completed by the potential indemnitor. Based on established credit worthiness, the bail bond company can evaluate the likeliness of being reimbursed by the indemnitor legally entitled money due to a breach of contract.
Bail Bond Application, Bail Bond Contract and Bail Bond Collateral (if applicable) are completed and signed by the indemnitor, defendant and the bail bond company.
The indemnitor is off the hook for the bail bond amount when the defendant has made the final appearance required by the court or if the bail bond has been exonerated by the court prior to the final appearance. However, the liability of co-signing doesn’t end until after full payment (if applicable) of monies is made for premium balances, interest/penalties-or-other assessed costs.
All nonpublic information gathered pursuant to the bail bond application is strictly confidential and shall not be disclosed except as permitted by law.

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