Things You Need to Know Before Cosigning for Bail Bondsman Services in Upper Marlboro, MD
A bail bond is defined as a financial agreement between the Bail bondsman services in Upper Marlboro, MD and the criminal defendant. The bail bond is a written agreement that states that the bond will be repaid by the defendant after they go to court following their release on bond. In order to make sure that the bail bond will indeed be repaid, collateral is set up in order to act as a monetary value to the bail bond.
It Is a Legally Binding Document
Co-signing a bail bond is more than just a written agreement. Being a cosigner means that you are agreeing to pay the bail bond fee in full –which is usually 10% of the amount owed–, put up collateral, and being responsible for getting the accused person to appear in court. If the defendant fails to show up in court, you will be responsible for repaying the full amount of the bail bond, which is stipulated in the contract between the bail bondsman and yourself. Even if you do not like the rules of the cosigner document, they must be followed.
Cosigner Is Liable
As the cosigner of the bail bond, you are liable for any fees that may accrue should the criminal defendant flee or fail to appear for their court date. If this happens, it is your duty to find the accused person and bring them back to jail. Whether or not the cosigner is able to find the criminal defendant after fleeing, they must still pay the bail bondsman’s 10% fee, as well as surrender any collateral.
Stipulations Can Be Made
After you understand the important facts of cosigning a bail bond, you can meet with Bail Bondsman Services in Upper Marlboro, MD. Because the cosigner of the bail bond is responsible for the collateral and the criminal defendant, they have the option to set stipulations for the accused person. This can mean requesting that they go to a drug or alcohol treatment center or to a mental health facility for an evaluation.
After you understand the important facts of cosigning a bail bond, you can meet with bail bondsman services in Upper Marlboro, MD. Remember to ask them any questions you might have and make sure you understand the answers. The right bail bondsman for you will be one who provides detailed answers and will be eager to work with you. Browse our website for more information.
