Order Granting or Denying Authorization to ba a Professional Surety Company OR A Professional Bail Company, is an official form from the Alabama Administrative Office of Courts, which complies with all applicable laws and statutes. USLF amends and updates the forms as is required by Alabama statutes and law.
Alabama Order Granting Or Denying Authorization To Be A Professional Surety Company Or A Professional Bail Company
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FAQ
The surety is the guarantee of the debts of one party by another. A surety is an organization or person that assumes the responsibility of paying the debt in case the debtor policy defaults or is unable to make the payments. The party that guarantees the debt is referred to as the surety, or as the guarantor.
A bail bond works as a surety bond, which means that the bondsman is essentially vouching for the defendant, and that they will show up to their court date.If the defendant fails to show up for any and all of their court dates, then the bondsman will seek recompense from the defendant for the full amount of the bond.
A professional surety bond on the other hand is a bond posted by a bail bondsman. If the defendant fails to appear, the bond is forfeited and now the Bondsman is liable to the State of Connecticut for the amount forfeited. This type of bond forfeiture is always enforced.
A surety is someone who is often mentioned in a bail undertaking. If the defendant fails to appear, the money or property may be 'forfeited to the court'. Another condition used when defendants apply for bail, is the naming of a surety.
The difference between bail and surety bonds is that bail involving cash bonds only require the involvement of two partiesthe defendant and the court. Surety bonds however, require the involvement of three parties in the bailing processthe court, the defendant and the bail agent.