What is a Surety Bond?

When asking “What is a surety bond?” you need to know the roles of the parties involved in surety bonds. There are three parties involved in a surety bond. These include the obligee, the principal, and the surety. The obligee is the government or arresting agency on behalf of the government. The principal is the defendant, and the surety is the bail bondsman; the person who assures that the obligee can perform the task. In cases where the defendant misses their court date, the bounty hunter may become the surety and the bondsman can also become the bounty hunter serving both roles.

A surety bond is a contract/agreement (backed by an insurance company) made between a person and a bondsman to pay the bondsman a certain amount if a second party, usually the defendant, fails to meet their obligations. In the case of a bail bond, that obligation typically refers to showing up for a required court appearance. The purpose of the surety bond is to protect the bondsman against losses should the defendant fail to meet their obligation of showing up for court and allows the arrested person to be released from jail until their case is completed.

 

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FAQ


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When an individual is arrested for a crime in the State of Florida, typically that person will be taken to jail for booking. Once in custody the process of release can take several hours. Finding information about your loved one can be frustrating and difficult. The agents at Above All Bail Bonds are available 24 hours a day to assist you in every step. Just call 844.755.2245

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A Surety Bond more commonly known as a (Bail Bond) involves a relative or friend contacting a bail agent. A Bail Agent is a licensed agent backed by an insurance company. When a bondsman posts bail, they are pledging the full amount of bail, guaranteed by an insurance company having adequate assets to satisfy the face value of the bond. A Bail Bond is the safest form of bail.

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For this service, the defendant is charged a premium (10% of the bail amount in Florida). For example, if the bail amount is $10,000.00, the premium charged is $1,000.00. All bondmen are required by law to charge 10% unless the full amount of the bond is less than $1,000.00; in that case the fee is $100.00. For example, if the bail amount is $750.00, the premium charged is $100.00. Convenient payment arrangements available!

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The 10% premium is fully earned once the bail bond is posted with a jail or court. This fee is non-refundable once the case is completed.

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Collateral is anything of value used to financially secure a bail bond. Collateral is often not necessary and is factored on a case by case basis. Some examples of collateral include a signature from a qualified indemnitor, credit cards, houses, cars, boats, jewelry.

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Once your case is completed and our agency receives notice from the court, we will return all collateral in a timely fashion. By Florida Law all collateral must be returned within 21 days after the bond has been discharged.
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The Indemnitor is a family member or friend who makes an agreement with the surety to secure any loss. They are responsible for the full amount of the bond if the defendant fails to appear in court.
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After a defendant is booked into a county jail, it usually takes anywhere from 2 to 6 hours to be released on bail. We wish we could speed up the process but county jails operate at their own pace. Above All Bail Bonds does everything possible to expedite the defendant’s release. Let us assure you we will be by your side every step of the way.

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Revoking a bond, although possible in most cases, is generally not recommended unless you are concerned that there is a strong possibility the defendant will fail to show up for scheduled court dates. You will lose your premium and could incur other fees. If you used a Bondsman, the terms for revoking your bond will depend upon the language used in the contract/surety agreement you signed. If it contains language that allows you to notify the bondsman that you no longer wish your collateral to be at risk, then yes, you may revoke. You will need to contact your bail bondsman for details on this process and whether or not you would be eligible to revoke your bond.
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If you are trying to find a loved one or family member and you believe they may have been arrested, we can help. Visit our inmate search page for more information or call one of our inmate search specialist: 844-755-2245
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If you believe you have a warrant, we will perform a warrant search for you and help you with the entire process. Call us now: 844-755-2245