Bail – security demanded by the court to guarantee the appearance of the accused during the pending action while on release from custody
Bail Bond – A power of attorney issued by a surety insurance company, executed by their licensed agent to allow a defendant freedom from incarceration pending adjudication of the criminal case.
Bail Agent – An individual licensed by the Department of Insurance who contracts for the undertaking of bail.
Collateral – Assets pledged by an indemnitor as security for the appearance of a defendant released on a bail bond. Collateral is returned to the depositor upon adjudication of the case.
Defendant – A person required to appear in court to answer pending charges.
Forfeiture – Issued by the court advising non-appearance of a defendant on bail, stipulating schedule of demand for full payment of the subject bail bond.
Indemnitor – Friend or family of the defendant who accepts liability for the bail bond by pledging real or personal property.
Own Recognizance (O.R.) – Release from custody by making a personal promise to appear in court on a date mandated by the Court
Liability – Responsibility for any financial loss incurred in connection with the bail bond posted.
Premium – The bail bond fee as regulated by the Department of Insurance, typically ten percent of the bail amount.