What is The Role of An Indemnitor While Securing A Bail Bond?

 A bail bond is an excellent legal recourse for people who have been arrested. If a magistrate approves bail, the defendant can get out of jail and return home while they prepare for trial. A bail bond, secured against a stipulated sum, guarantees that the defendant will attend all hearings and adhere to court-prescribed rules. If a defendant is from North Carolina, they can consult a bail bond company in NC to streamline this process. Professional bail bond agents offer flexible payment options and post bail on behalf of a defendant. Bail bond agents can help defendants secure faster release and simplify this harrowing experience for their family and friends. Bail bond agents often work with an Indemnitor while posting bail for a defendant. Who is the Indemnitor? What is their role? Let's break it down!

Who Is an Indemnitor?

An Indemnitor, also known as a co-signer, is the person who takes responsibility for the bail bond on the defendant's behalf. They enter into a formal agreement with the bail bond company and agree to pay the full bail amount to the firm if the defendant skips bail. The Indemnitor is also required to pay the fee charged by the bail bondsman. They can have a separate agreement with the defendant about getting paid back. However, indemnitors are financially liable if the defendant is not compliantand the bond posted is forfeited.

Responsibilities of the Indemnitor When Co-Signing a Bail Bond

An Indemnitor has the following responsibilities:

●        Put Up Collateral: In many scenarios, the Indemnitor submits their asset details as collateral while co-signing a bail bond. This collateral may be seized if the bond stipulations are violated.

●        Ensure the Defendant’s Compliance: The co-signer should ensure that the defendant does not miss a court hearing. If they skip bail without a legitimate reason, the co-signer is responsible for compensating the bail bond company.

●        Take Financial Responsibility: If the defendant misses court hearings and goes missing, the bail bond company may hire recovery agents to trace them. In such a situation, the co-signer must foot the recovery costs. If the bond is forfeited due to the defendant skipping bail, the co-signer will have to pay the bond amount to the bail bond agents.

Can A Co-Signer Back Out of Their Obligations?

Rules stipulated for Raleigh bail bonds make the co-signer accountable for the fulfillment of bond terms. However, if the co-signer feels there is a risk that the defendant may skip bail, they can inform the bail bond company. If their agreement with the bail bondsman permits it, they can revoke the bail bond. As a result, their obligations cease, and the bail bond agents ensure the defendant’s return to custody by contacting the court.

Who Can Be a Co-Signer?

An Indemnitor must meet the following criteria:

●        US Citizenship: The Indemnitor must be a legal citizen of the US.

●        Stable Employment: The person must have worked with their current employer for at least one year.

●        Financial Stability: The person must have an annual salary of at least $36,000. They must also have a valid checking account.

●        Age: The Indemnitor must be 21 years old or older.

●        Credit Score: The bail bond agents can also review the credit score to ensure they are creditworthy before finalizing the contract.

If you want more information about bail bonds in Raleigh, NC, contact the Amistad team today! Their expert agents can help you or your loved one make bail and minimize the financial burden involved in this process.