What is collateral and what can serve as such?

In some cases collateral is required due to the high flight risk potential of a defendant. Collateral is something tangible that is equal to the amount of the bond that is held by the bond company till the bond is discharged. The bondsman will determine whether or not collateral is required during the initial consultation. If collateral is decided necessary, then there are many options that can be used as collateral.

SOME COLLATERAL OPTIONS ARE:

1. Personal check to be held from a person with proof of current employment.
2. Real property – signature of a homeowner, signer assumes full liability for the bond.
3. Jewelry – gold/silver, diamonds, watches or other rare pieces.
4. Electronics – TV’s, game systems, SLR cameras, guitars, etc..
5. Guns
6. Cars / boats / RVs – if storage required, fees are applicable.

If there is something that you own that think might secure the bond that was not listed, you are encouraged to call 305 970 9337 to inquire.

WHEN IS YOUR COLLATERAL RETURNED???

As soon as a case is resolved or as soon as the judge no longer sees fit to have the defendant supervised by the surety company, he will order a discharge of that bond. The bond company will return your collateral after receiving that discharge.

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