Nebbia Hearing - Bail Bonds Hearing

Bail Bond Agent: A bail bond agent (also referred to as a limited surety agent or professional bail bond agent) is an individual appointed by an insurer to execute bail bonds in connection with court proceedings and who therefore receives or is promised money or other things of value (collateral) in return for issuing a bail bond.

Collateral: Collateral is better described as property accepted as security for a loan or against the performance of an obligation. In a bail bond situation, the performance of the defendant to appear at all court proceedings is the performance being secured.

Forfeiture: A bail bond forfeiture occurs when a criminal defendant fails to appear at their court hearing, or fails to comply with the conditions of the bond.

Nebbia Proffer Filing: A Nebbia hearing requires the defendant and co-signers of the bond to produce and disclose the source of bail premium and collateral prior to the defendant's release on bail. Indemnitor: An indemnitor may come into play when the Principal has the capabilities to perform the obligation, but is lacking the financial resources to carry it through to completion. The indemnitor may put up cash, other liquid assets, certificates of deposit (CD’S), etc. to entice the surety to issue the bond to the principal.

Managing General Agents: Managing General Agents are licensed and appointed bail bond agents in this state who are chosen by certain insurers to be responsible for the supervision of their appointed bail bond agents.

Obligee: The party requiring the bond which receives the guarantee the principal will perform.

Principal: The party required to get the bond and to perform and fulfill a contract or to meet an obligation. A Bail Bond Principal is the defendant in a court case who has authorized a bail bond agent to act on his or her behalf.

Surety: The one who guarantees the performance of the principal to the obligee (most commonly, the bonding company).

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