Bail out with independent proof of innocence (5)
I believe the answer is:
alibi
'proof of innocence' is the definition.
(I've seen this before)
'bail out with independent' is the wordplay.
'out' indicates an anagram (out can mean wrong or inaccurate).
'with' is a charade indicator (letters next to each other).
'independent' becomes 'i' (**).
'bail' with letters rearranged gives 'alib'.
'alib'+'i'='ALIBI'
(Other definitions for alibi that I've seen before include "Excuse for failure" , "Defence used by an accused person" , "Evidence one was not present" , "Timely get-out" , "Lawyer's weapon, Latin for 'elsewhere'" .)