What is collateral?

Collateral is something of value used to secure the bond amount owed if and when the Defendant forfeits his or her bond, i.e. does not show up for his or her court date. For purposes of posting bond in Oklahoma, collateral is normally in the form of cash; however, the bondsman might also place a lien on the co-signor’s, and or Defendant’s, property or mortgage. In some cases the bail bondsman might place a lien on vehicles and other items of value as well. The collateral is not to be used by the bondsman, and it is returnable after the court proceedings have officially ended.