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What if the bail bond goes into forfeiture and I need to convert the collateral to cash?

April 26, 2017BAIL Bond cash collateral convert forfeiture

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What if the bail bond goes into forfeiture and I need to convert the collateral to cash?

1 Answer

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When a bond forfeits the bail bond agent must provide the indemnitor and the principal on the bond with 10 days advance notice of the agents intent to convert the collateral deposit to cash to satisfy the forfeiture.