SECURITY AGREEMENT

To acquire bail for the defendant, you are required to complete the bailment promissory note and agreement form.  By completing the form, you are agreeing to the agreement terms.  Should you indicate there are co-signers to the agreement/contract, you are confirming that you have their commitment and approval and that the agreement you're entering into is a binding agreement for all parties.

Contract of Bailment/Promissory Note & Security Agreement Terms

The bonding company, as bail, shall have the control and jurisdiction over the principal during the term for which the bond is executed and shall have the right to apprehend, re-arrest and surrender the principal to the proper officials at any time as provided by law.

It is also understood and agreed that the happening of any of the following events shall constitute a breach of the principal’s obligation to the bonding company.
a) the principal departs the jurisdiction of the court without the consent or notifying the bonding company. b) If the principal changes address without notification or attempts to leave the country without permission from the bonding company.
c) the principal commits any act, which constitutes any reasonable evidence to cause a forfeiture of the said bond.
d) If the principal made any false statements on the bond application, wrong address or SSN or other personal information.
e) If the principal is incarcerated again under this bond, the surety has the right to surrender all of its bonds without any refunds or less paid and the balance of the contract remains due in full.
f) The executed bail bond is considered part and partial for the bail contract.
g) The signature of the principal and cosigners is evidence of the agreement that all monies paid for him or by him concerning this bond is irrevocable (non-refundable).
h) That the principal and cosigners have read the contract and the promissory note and security agreement and do agree to all the terms of these contracts.

The principal and/or consigners hereby promise to pay the bonding company, the full amount of bond fees listed on the front of the contract for and in consideration of the bail bond or bonds listed on the same. I also understand that if any collateral is being held as security against the bond, or the bonding fees will not be returned until the bonding company is relieved of the bond. If forfeiture is taken all cost must be paid by the responsible parties before the collateral is returned. I hereby waive any notice of demand or presentation of this note in order to start collection. I further promise and agree to pay any and all attorney fees, court cost and incidental and related expenses incurred should collection of this note become necessary. I do agree that the full term of this of this agreement is contained within the four corners of this note. In the event this note is cosigned others. ALL parties agree that each signed and cosigned is individually responsible for the full payment of this note. In the event this note is not paid on or before the final date of forfeiture, I further promise to pay interest upon any outstanding balance at the rate of 10% per annum. I the principal and cosigners apply for the services and authorize the bonding company to make such searched on credit history, power and telephone bill to evaluate and collect the above agreement or to locate the principal if bond is forfeited.

I the principal and/or cosigner promise to pay the bonding company the specified bond and fees listed above on this contract on or before the dates listed on the same for the consideration of the bonding company risking the bond of the principal listed above on this contract agreement. I or we agree to pay the bonding company the total fees listed on or before the date listed and agreed upon, unless otherwise agreed to, but no later than the date agreed above on this contract. If for any reason the amount due is placed for collection. I or we agree to pay reasonable attorney fees and all cost incidental to the collection of this fee. I or we further understand and agree that if a forfeiture is taken on the bond of the principal that I or we still owe the bonding company the fees and we will pay all expenses of whatsoever nature incidental to discharge and payment of that forfeiture of the bond.

Contract of Bailment/Promissory Note & Security Agreement
Complete the form below.  

LIBERTY BONDING COMPANY

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