top of page

Irrevocable Letter of Credit as Collateral

Many times I receive calls from parents or family members who are out of state and have another relative who was arrested in Colorado and whose bond is large. These folks want to bond the family member out of jail as soon as possible. Unfortunately, without a local cosigner, the bond cannot be posted.

If the family is financially solvent, they may approach their bank to issue an Irrevocable Letter of Credit (ILOC) to the bondsman for the amount that will cover the collateral requirement. It is similar to a bank line of credit, however, it is a guarantee of funds available, and no money is shifted unless the Individual on bond fails to appear.

This is an available option for both in-state and out-of-state Cosigners to secure a higher bond amount and have their family member out of jail.

6 views0 comments

Recent Posts

See All

Bail Overview

The bail system is an important part of the criminal justice system, which allows an accused person to be released from jail before their trial by providing a sum of money as a guarantee that they wil


bottom of page