What is a surety bond?

A surety bond is a contract among three parties; the defendant, the court, and the bail agent. A bail bond is a type of surety bond used to secure the release from custody of a person charged with a criminal offense. The defendant or indemnitor will pay a premium in exchange for the bail bonding company's financial strength to extend surety credit. In the event of a forfeiture of the bond, the bonding company will pay the forfeiture, and will turn to the defendant or indemnitor for reimbursement.