Fillable Form Collateral Receipt

What is a Collateral Receipt?

A Collateral Receipt is a document between a borrower and a lender containing the details of a loan for record and tracking of payment.

A Collateral Receipt Form is an accurate description of the security provided to an Indemnitor by the receiving agency’s agent, in its fiduciary capacity, listing all collateral provided as security for a bail bond and held by the agency or agent until the bail bond is exonerated by the court or a forfeiture occurs.

Collateral is described as property accepted as security for a loan or against the performance of an obligation. It is an item of value used to secure a loan, minimizing the risk for lenders. If a borrower defaults on the loan, the lender can seize the collateral and sell it to recover its losses. Mortgages and car loans are two types of collateralized loans.

In a bail bond situation, a collateral receipt’s provided security is for the obligation of the defendant to appear at all court proceedings. A bail bond is a guarantee by a third party that a defendant in court action will appear in all of their criminal court proceedings. The bond is given in return for the release of the defendant from court custody.

A bail bond is a type of surety bond. A surety bond is a three-party guarantee put into place to protect the party requesting the bond and guarantees the performance, ability, honesty, and integrity of individuals performing various responsibilities and obligations. The three parties involved are the obligee, principal, and surety. However, there can be another party to a suretyship called an Indemnitor.

An Indemnitor may come into play when the principal or the party required to get the bond and to perform and fulfill a contract 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, or certificates of deposit to entice the surety to issue the bond to the principal.

Receipt of Collateral must include the collateral owner, the defendant, and the bond number, as well as the terms of redemption for the collateral, including any storage fees.

A licensee who receives collateral in connection with a bail bond transaction shall provide a prenumbered receipt to the person providing the collateral. The receipt for the collateral must state the following:

• Date of receipt
• Name of the surety
• Bail bond number
• Name of the defendant
• Amount of the bond
• Full description of the collateral
• Amount of money or value of the collateral received
• Name of the individual making payment or giving collateral
• Conditions for the return of the collateral or excess collateral upon forfeiture to the person who paid the collateral, or to that person’s heir, legal representative, or successor in interest.

A receipt must be issued and maintained in numerical order. The original receipt book must remain permanently at the principal place of business of the licensee or surety. A duplicate receipt book may be kept in a location other than the principal place of business. A duplicate receipt book must be clearly identified as a duplicate.

A licensee shall send a copy of the receipt for collateral to the surety within 30 working days of execution of a receipt.

How to fill out a Collateral Receipt?

Using PDFRun’s Collateral Receipt Template, you can fill out and download a PDF copy of the receipt in minutes. Fill it out by following the instructions below.

Date

Enter the date you’re filling out the form.

Receipt No.

Enter the receipt number.

Received From

Enter your full name.

SSN

Enter your social security number.

Address

Enter your address, including your residential city, state, and ZIP code.

Home Phone

Enter your home phone number.

Work Phone

Enter your work phone number.

Cell Phone

Enter your cell phone number.

The aforementioned individual has deposited the following collateral as security for the execution of the bail bond

Money Collateral

Mark this box if you used money collateral when you deposited the collateral as security for the execution of the bail bond.

Mark the appropriate box of which money collateral method you used. You may select:

• Cash in the amount of – Then enter the amount in dollars.
• Money order in the amount of – Then enter the amount in dollars.
• Check in the amount of – Then enter the amount in dollars.

Collateral Documents

Mark this box if you used collateral documents when you deposited the collateral as security for the execution of the bail bond.

Mark the appropriate box of which collateral documents you used. You may select:

• Indemnity Agreement

• Promissory Note

• Mortgage Deed and Promissory Note

Other

If you used none of the above-mentioned methods, enter another method used when you deposited the collateral as security for the execution of the bail bond.

The aforementioned collateral has been put down as security for the bail bond for the following

Defendant

Enter the full name of the defendant.

Offense(s)

Enter the defendant’s offenses.

Court

Enter the court where the defendant’s case will be held.

Bond Amount

Enter the bond amount.

Power No.

Enter the power number.

Received by

Enter the full name of the person who received the collateral.

Depositor Signature

Affix your signature.

Date Signed

Enter the date you signed the form.

Receipt for Return of Collateral

This section states that by completing this section, you hereby surrender the original of this collateral receipt and acknowledge the return and receipt of the collateral listed above. The collateral has been returned in good and sufficient condition and you hereby relieve the surety and its producer from any further liability or responsibility in relation to the collateral.

Depositor

Enter your full name.

Date

Enter the date you signed the form.

I, the depositor, have received the following monetary amounts, collateral documents, or items

Amount

Enter the monetary amount you received.

Collateral Documents

Enter the collateral documents you received.

Other Items

Enter other items you received.

Received by

Enter your full name.