Collateral And Indemnification
On virtually every bail bond, the bail agency will require the bond be ‘indemnified’ or ‘guaranteed’ by a responsible third-party guarantor. This person (or persons) is known as a bond ‘cosigner,’ or guarantor,’ or ‘indemnitor.’ The indemnitor needs to be able to pay the bail agency the full bond amount if the defendant absconds, the bail agency can’t find him/her for return to court, and the court has demanded full payment of the bond.
Bond ‘cosigners’ are almost always family members or close friends of the arrestee.
The size (amount) of the bail required will determine the indemnification/ collateralization require for the bond. On larger bonds, as a deed of trust to real property in the bond amount will generally be required.
The bail agency must take many factors into consideration when preparing to bail a defendant out. This analysis takes place during telephone conversations and sometimes personal interviews with the defendant and indemnitor(s); the bail agent takes a detailed application, much like a banker would do in a loan situation. Cash (currency or via a credit card) may be collateral on bonds; upon case conclusion and bond exoneration, the cash collateral is returned to the depositing cosigner.
The bond premium (cost of purchasing the bond per rates set by Nevada statute) is fully earned upon the defendant’s release and is not refunded.