Bail Bonds Collateral Guide
Cash-Only Bail Bonds
Read about collateral requirements and why bail bondsmen in Arizona want you to have it. Providing daily service to Jails located in Navajo, Apache, Yavapai, Coconino, Gila and Mohave County
Collateral is any kind of property or cash used to secure the performance of the bond. Collateral serves as protection for a bondsman against the Defendant’s default – usually a failure to appear for not showing to their Court hearing or not abiding by their Conditions of Release. If a the Defendant’s bond gets forfeited to the Court, the owner of the collateral, or Indemnitor/cosigner is required to pay the forfeited bond amount or the collateral will be sold. Any deficiencies arising from the sale of the collateral are the responsibility of the Indemnitor/cosigner. On the other hand, if the sale of collateral brings in more money than the forfeited bond, the owner will receive the difference.
If the Defendant attends all of their Court hearings and the bond is ordered exonerated, the collateral will be returned to its owner. In most cases the Defendant appears for their hearings, the bond gets exonerated and the collateral is happily returned.
Acceptable Forms of Collateral
- Titles to cars, trucks, flatbed trailers, motor homes, travel trailers, mobil homes, boats, anything that is titled in Arizona as long as it is lien-free (no money owed on it). Worth is based on low Trade-in values (Kelley, NADA, Edmonds, and others)
- Deeds of Trust / Warranty Deeds on real estate. This is the most frequently used form of collateral on large bail bonds. Recent appraisals performed by licensed appraisers hasten the process.
- We can accept Bills of Sale on other things which are not issued a title, including: forklifts, Bobcats, construction equipment and items that we cannot hold in our possession.
- We can accept gemstone jewelry (rings, bracelets, necklaces) with certified appraisal certificates. Collateral value will be 1/10 to 1/3 of retail value or pawn value.
- We can accept Indian Jewelry, Navajo rugs, pottery, Kachina Dolls, baskets and most other Native American hand-made items. Collateral value will be 1/3 of retail value or pawn value.
- We accept cash, publicly traded stock certificates, and most major credit cards.
We will seriously consider any asset you may have.