Bail Bonds: Florida Keys Agencies Accept Collateral

Wondering just how a bail bonds agency handles the money situation for paying your bail? In most cases, collateral is required by bail bonds. Florida Keys agencies will require something of value for larger bonds, just in case the arrestee decides to run.

In order to understand collateral, you need to understand the bail process. First, the judge will set bail at an amount he or she deems appropriate, given the arrestee’s past criminal record. Flight risk will also be taken into account and in most cases, bail is a fairly reasonable amount.

Once the bail money has been paid, the defendant must appear at all court dates until the case is closed. If this is done, the money is returned . . . but if they don’t show up for court, then they forfeit the bail money.

Where does the bail bonds agency come into this? They are putting up the money and they get it back once the defendant has completed all their court appearances. That means, if the arrestee doesn’t show, it’s the bail agency that loses their money. They do require a payment up front of 10% (15% in federal cases), but this doesn’t cover losses.

So, this means that the relative or friend that is setting everything up will need to put up some collateral for larger bails. This may be a car, a house or anything else of value that is owned by the friend or family member. This is a good way to ensure that everyone is happy, including those handling the bail bonds. Florida Keys agencies are going to be careful with their money, so you may need something of value in order to secure their services