Final answer:
An indemnity agreement in the bail bond industry is a contract that protects the bail bondsman from financial loss by making the indemnitor responsible for the full bail amount if the defendant fails to appear in court.
Step-by-step explanation:
An indemnity agreement in the bail bond industry serves the purpose of protecting the bail bondsman from financial loss. It is a contract between the bail bondsman and the person seeking release from jail, known as the indemnitor. By signing the indemnity agreement, the indemnitor agrees to be responsible for the full bail amount if the defendant fails to appear in court as required. This ensures that the bail bondsman is not left with the financial burden if the defendant skips their court date.
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