What Is An Indemnitor On A Bail Bond? 3 Things To Know
Receiving a call for help from a close friend who is in jail is probably not the phone call you hoped or expected to receive. But when you get this call and want to help, you might want to reach out to a bail bond agent. A bail bond agent provides services to people who need assistance with bailouts, and you or your friend can call the agent. If you call and sign the agreement with the agency, you become the indemnitor on the contract. Before you sign it, you should understand what this means.
1. An Indemnitor Is a Cosigner
The first thing to understand is that an indemnitor is a cosigner. You might be wondering what exactly a cosigner is. A cosigner on a bail bond is the same as a cosigner on a loan. If you cosign on a car loan, for example, you take on the loan responsibilities if the borrower defaults. You take risks by being a cosigner, and the same is true with bail bonds. With a bail bond, the indemnitor becomes responsible for the money the bail bond agent paid to get the person released from jail if the individual doesn't meet the conditions of their bail agreement. Before you sign the agreement, you should understand what signing the agreement obligates you to do.
2. You Take on Many Responsibilities
As the indemnitor, you take on many responsibilities. The first one is the responsibility to ensure that the defendant goes to court. Getting out of jail through bail does not eliminate the criminal charges the person faces, nor does it eliminate the necessary court hearings and processes. Secondly, you take on the responsibility of ensuring that the defendant follows all the court and bail bond agency rules.
3. You Owe the Money Personally
The third thing to know before signing the agreement is that you will personally owe the money to the bail bond agent if the defendant violates any of the rules of their bail agreement. If the defendant does anything wrong that leads to the bail bond agency losing the money they paid, you must pay the debt in full yourself.
Are you willing to take on these risks and responsibilities? If you know and trust the person you are bailing out, you might feel comfortable and confident taking on this role by becoming the indemnitor on a bail bond. If you have questions about bail bonds or anything related to them, call a bail bond agent today.