If a person ends up in jail and they qualify for bail, the judge will determine the amount at their court hearing. Instead of paying the full bail amount out-of-pocket (which can be quite expensive), people will generally hire a bail agent who will post their bond in exchange for a 10% commission. However, as a way of ensuring their promise to appear in court, the bail agent will also ask them to sign over collateral.
Collateral is a form of property like a house, a car, jewelry or even art that helps guarantee the defendant will show up for court. Here’s a list of things commonly accepted as collateral:
Whatever collateral you use to secure your bail, once the trial is heard you will get it back as long as long as you attend all court appearances. If, however, you miss your court date, the bondsman will be eligible to recover his losses incurred due to your non-appearance based on the terms of the bail agreement.
As soon as the case is resolved, the bondsman will typically return the collateral in five working days, or according to the terms agreed upon.
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For more information about Bail Collateral, visit the AboutBail article here.