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A bail bondsman located outside of the New York City Criminal Court in Manhattan, New York City. A bail bondsman, bail bond agent or bond dealer is any person, agency or corporation that will act as a surety and pledge money or property as bail for the appearance of a defendant in court.
With a surety bond, the bail bondsman will post your bail in full in return for a fee, typically called a bail premium. This premium is usually about 10 percent of the bail’s total amount, but ...
The court in many jurisdictions, especially states that as of 2012 prohibited surety bail bondsmen – Oregon, Nebraska, Wisconsin, Illinois, Kentucky and Maine [29] – may demand a certain amount of the total bail (typically 10%) be given to the court, which is known as surety on the bond and unlike with bail bondsmen, is returned if the ...
Usually, a surety bond or surety is a promise by a person or company (a surety or guarantor) to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to ...
A person may be required to lodge money as part of their bail. A surety is a person who makes themselves responsible for a prisoner coming to court. They promise to pay a sum of money to the court if the prisoner does not appear as agreed; however, commercial bail bonding as in the U.S. is illegal. [32] [33] There are three kinds of bail:
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money , intended to secure a futures contract , commonly known as margin .
In 1989, New York State enacted a new Article 69 of the New York State Insurance Law, which established "financial guaranty insurance" as a separate line of insurance. Article 69 excluded financial guaranty insurers from coverage under the property/casualty insurers security fund, which covered payments owed by insolvent insurers.
The source of the bond is the Federal Insurance Company, a corporation authorized to transact business in New York. They are based in Chesapeake, Virginia and New Jersey and the company appears to ...