The bail bond process is very similar in most states. However, there are some exceptions. Depending on the agency, the Peoria bail bonds process may require a few additional steps or conditions. Here’s a basic rundown of the process.
What is a Guarantor?
A bail bond guarantor is someone who guarantees the defendant’s appearance for trial proceedings. If the defendant fails to appear, he/she forfeits the bail bond and must pay the full amount to either the bond agent or the court. Some agents don’t offer their services unless the defendant has a guarantor.
The Roll of the Indemnitor
A bail bond indemnitor, aka co-signer, agrees to pay the full bail amount should the defendant skip trial proceedings. For defendants with no job, bad credit, serious charges, criminal history, and high bail, having an indemnitor is a must. Without one, some bond agents won’t take the risk.
Putting Up Collateral
Collateral is a valuable object that can be liquidated as needed. Different bond agents accept different forms of collateral. A few commonly accepted forms include guns, cars, real estate, jewelry, and premium electronics.
The bail bond cost is a nonrefundable fee totaling 10 percent of full bail. Although the bond agent does not refund their fee, they do return any collateral to the defendant upon the defendant’s completion of trial proceedings. This completes the Peoria bail bonds process.