A surety bond occurs when the bondsman posts bail on the defendant’s behalf. The agent charges them a certain percentage of the bond. South Carolina bond agents usually charge up to 15%.
The state limits the bond amount to 15%. That said, the bond agent can charge less and determine the amount based on age, criminal history, and offense.
Defendants must honor the surety bond in two key ways:
Collateral: This option is like property bonds. The defendant will pledge assets to pay the amount owed. If you fail to honor the terms (i.e., not showing up to court or violating the bond terms), the bond agent can recover the assets as payment.
Co-Signer: Even if the defendant has enough money to pay the bond, bond agents usually require a co-signer. The co-signer will be responsible for the defendant’s actions.
Additionally, the co-signer must meet specific criteria. For example, the co-signer may need to submit two consecutive pay stubs before signing on. Overall, the co-signing conditions depend on the bond agency.
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