What are the requirements for bailing someone out of Jail? This question is probably one of the most common questions we get as a bail bonds company residing in Ventura,CA. It’s very rare that any one you generally speak with actually even knows what a bail bond is or what the requirements one would need to bail someone out. Here we will provide all the information that someone would need if they get that call at 2am from their friend in jail.Do you want to learn more? Visit Connecticut-Bailbonds.com.
We’ll set the stage here so that the explanation will be most clear. For this scenario the defendant, the one calling from jail, has contacted their good friend and the good friend will be the signer, or indemnitor. First, let’s explain some of the vocabulary:
Defendant: the one in jail. The arrestee.
Indemnitor: There are two kinds of indemnitors. The first; self-indemnification. This is when the defendant, the one in jail, is actually allowed to sign for their own bail. Here, the bail bonds company feels that the defendant is responsible enough to attend their court case and also has enough funds to back it up financially. Second; Indemnitor or signer. This is when the defendant has touched base with a loved one or friend and that person has agreed to sign responsibility for the defendant. The indemnitor will be responsible for making sure the defendant attends all court dates until the case has finished and is also responsible for the cost of the bail bonds for paying up front and also if there is a payment process.
Bail Bonds Premium: This is the cost of doing business with the bail agency, 10%. i.e. for a $10,000 bond, the premium is $1000.
The Indemnitor now has the information from their friend in jail and their next step is to find a bail bondsman. The quickly peruse the internet and find few companies to call. After a couple conversations, it’s decided to go with company X. The indemnitor asks, “what do I need to bail out my friend.”
Money: Pay the cost of the premium. Bail is at $10,000. The premium is $1000. This can be paid in many ways; cash, credit card, or in some instances, financing.
Forms: Fill out and sign the bail bonds application. This is usually an 8 1/2 by 14 legal document with lots of blanks to fill out. The indemnitor will need to provide their present address, social security number, driver’s license number, telephone and much more. The defendant will need to provide three times that amount of information; like three references, four family members, work address, and much more. Why does the defendant need to supply much more information, because they are the key to total bail bond’s cost. If the defendant skips bail, the indemnitor and bail bonds company now have to pay the court the $10,000, so getting the information and a lot of it about the defendant is important.
Collateral: for a $10,000 bond, is less likely that collateral will be needed. But if the indemnitor does not have very good credit, no job, and other signs of troubles associated with being able to pay debt, collateral will definitely be needed. Bail set at $25,000 and above is usually where getting some type of collateral is requested. Good collateral is a piece of property that has more equity in it that the total bail amount. Questionable equity is like a pink slip to a mediocre vehicle.
Good Credit: Having good credit will allow you to bail someone out even if their bail is upwards of $50,000. But definitely for $10,000, if you have good credit and the $1000 premium, you will be able to move quickly through the bail bonds process and your friend will be out shortly.