Who Can Co-Sign a Bond?
Posted on Sep 3, 2014 7:15am PDT
If someone is arrested and thrown in jail, a family member or friend of that individual may be able to co-sign a bail bond on the person's behalf.
When the relative or friend co-signs on a bail bond, he or she is taking responsibility for the arrested individual and is guaranteeing the bail bonds agency that this person will show up for his or her scheduled court hearings. The co-signer (or the indemnitor) will usually be required to put down collateral, which may be a home, a vehicle or other expensive property that can be seized by the bail bonds agency if the defendant is a no-show. (A no-show makes the bail bonds agency liable for the full bail amount, which is why the agency will seek compensation from the indemnitor.)
If no collateral is put down, the co-signer may be held financial liable in other ways. A co-signer should fully consider the risks involved in obtaining a bail bond for another individual.
If a co-signer posts a bail bond for someone but then changes his or her mind because of a fear that the defendant is a flight risk, the co-signer may choose to revoke the bond. If this happens, the defendant will have to be returned to jail before the indemnitor will be released of liability. There may be fees associated with revoking a bail bond.
Choosing to co-sign a bail bond for another person is a major decision that should not be taken lightly. Do you have more questions about the process of obtaining a bail bond? If so, we encourage you to speak to a member of our team at 365 Bail Bonds. Contact us so we can provide you with the information you need! We provide bail bonds services to individuals In Osceola County, Orange County and other parts of the Orlando metro area.