Frequently asked questions

1. What is a property bond?

A Property Bond is a financial obligation arranged between the Courts and a bail bond company. Unlike a Surety Bond, which is usually backed by a large insurance corporation, a Property Bond is backed solely by the bonding company. As a result, bonding companies who are justified to issue Property Bonds undergo an extensive justification process that includes examination of the company, corporate officers, financial strength, credit history and available assets, among other things.

2. What is the difference in price between Property and Surety Bonds?

Unlike Surety bonds, which are regulated by the Washington State Insurance Commissioner and usually have a Premium set at 10% of the Penal Amount of the bond, Property Bonds are a private undertaking between the Courts and the bonding company. The Premium charged for Property Bonds is not regulated by the State of Washington. Therefore, bonding companies can offer Property Bonds at a lower Premium, which benefits all concerned parties.

3. Are Property Bonds legal in the State of Washington.

Yes! Any company that is justified to post Property Bonds in certain counties of Washington State and who have met all rules, regulations, policies and procedures required to post bail bonds in Washington State may legally post Property Bonds where they are justified to do so.

4. Is one type of bond better than the other?

As stated above, a Property Bondsman undergoes an extensive, in-depth investigation prior to being justified to post Property Bonds. It is a privilege to receive this justification, and it reflects on the company's business practices and financial soundness. In the end, they both provide the same result and they both entail the same obligations and responsibilities. In our opinion, the biggest factor is the bonding company's service history and stability. One must draw their own conclusions.