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What is a surety bond?

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Video Details

Duration: 17 seconds
Country: United States
Language: English
License: All rights reserved
Views: 39
Posted by: expertbail on Feb 19, 2011

A surety bond is a contract among three parties; the defendant, the court, and the bail agent. A bail bond is a type of surety bond used to secure the release from custody of a person charged with a criminal offense. The defendant or indemnitor will pay a premium in exchange for the bail bonding company's financial strength to extend surety credit. In the event of a forfeiture of the bond, the bonding company will pay the forfeiture, and will turn to the defendant or indemnitor for reimbursement.

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