19 Sep What Collateral Can Be Used For Bail Bonds
Bail bonds typically require collateral to be pledged, which is basically like another insurance and surety. The defendant’s number one requirement for a bail bond is to show up for court dates. To further incentivize him or her to honor this agreement, the collateral for a bail bond is pledged and returned at the end of trial. However if the defendant skipped court, the bail bond company takes possession of the collateral (and revokes the bail bond).
The most common forms of collateral fall under real estate, vehicles, electronics, and other valuables, all with a high value.