How Does Collateral Work?

Bail bonds act as insurance for the release of a defendant from jail. Once the defendant is released on bail, he is required to appear at all mandated court functions. When you work with a bail bondsman in Maryland, he may ask for collateral in addition to the non-refundable monetary fee required to purchase the bail bond.

Collateral refers to anything of value that the bail bonds service may hold as additional insurance for compliance with the bail agreement. Thus, collateral may include cash, property, a home, or even valuables such as art and jewelry. You can check out this brief video to learn more about how collateral works if your bail bond company asks for this additional insurance before agreeing to issue a bond.