Responsibilities of An Indemnitor in Montgomery County
So, a loved one of yours has been locked up and you’re considering posting their bail. Posting bail isn’t as easy or cut and dry as some popular TV shows would have you believe. Finding the right bail bond is important and equally what’s equally important is understanding your role. If this is your first time posting bail for someone, there are a few things you should know first. Key Terms to Know Terms such as “indemnitor”, “collateral”, and “face amount” will be used and you might not know what those are. · Indemnitor/Co-signer: The person responsible for signing the bail agreement and posting bail on behalf of the defendant. · Face Amount: The full amount of the bond. · Collateral: The item (security) used to guarantee that bail loan is repaid. · Premium: The amount that is payable for the defendant to be released. Responsibilities of an Indemnitor Of course you’ll want to help your loved one out as much as possible. Howev