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What is a Bond
Bonds guarantee payment of a precise number (on a specific date) is given from one party to another. Plainly put, a bond is a commitment that ensures payment of an amount of money.
This is commonly a consent to the court that the defendant will show up to court at the right date and time.
With this bond, the defendant must return the entire sum in cash.
Rather than money, the equity in property is placed up for a bond. These have to be handled at the Arapahoe County Combined Court Clerk’s office, as the Detention Center doesn’t handle them. Houses, jewelry, and vehicles are the most common types of property used for property bonds.
PR bonds with con-signer
These bonds are funded by the defendant and a co-signer. There are distinct requirements for the co-signer that they must meet. Both parties will be liable for repaying the bond.
How Do Surety Bonds Work?
Surety bonds act as an agreement among three parties—the principal (you), the surety (Fort Morgan Bail Bonds) and the obligee (the entity claiming the bond). The Surety Bond financially secures to an obligee that the principal will work by following the articles set by the bond.