A: A bail bond is a type of surety bond used to secure the release from custody of a person charged with a criminal offense. Under such a contract, the principal is the accused, the obligee is the government, and the surety is the bail agency.
Someone arrested on a criminal charge may be held until trial, unless they furnish the required bail. The posting of a bail bond acquired by or on behalf of the incarcerated person is one means of meeting the required bail. When a bail bond is issued, the bonding company guarantees that the defendant will appear in court at a given time and place. The Government entity (state or federal) in whose court the defendant must appear, is financially protected by the bail bond. If the defendant fails to appear, the bail amount becomes payable and is forfeited as a penalty by the surety insurer issuing the bail bond. Bail bonds may require collateral (cash, a deed, or other property) to protect the surety.
Bail bonds are issued by licensed "Bail Agents" (i.e., Brent Meyerson, Bail Agent) who specialize in underwriting and issuance. Bail agents act as the appointed representatives of licensed surety insurance companies.