Collateral is a deposit of money or property to protect the bail bonding agent from loss if the defendant fails to appear and the bond is forfeited. Collateral can come from the defendant, or from friends and family, who are known as “co-signers” or “indemnitors.” A written contract must be signed when the collateral is taken and the bail bonding agent must provide a receipt. The bail bonding agent has a right to use collateral to pay forfeitures and the expenses of apprehending and returning the defendant to custody.
