Bail Bonds Explained:
Bail bonds are a form of payment, delivered by an individual accused of a crime, which allows them to temporarily leave the jail system until they are officially tried in a court setting. Bail bonds are offered to individuals who cannot meet their bail requirements; those who cannot meet bail may be awarded this provision, which is typically facilitated by a bail bondsman or a bail bond agency.
In the event that an arrestee is unable to satisfy the required bail payment, they may be eligible to borrow the necessary funds from an institution specializing in the provision of Bail Bonds; Bail Bonds are provided as surety loans that can vary in requirements for an initial payment - Bail Bonds percentage rates can range from 5 to 50% depending on the gross amount of the required bail payment.
That being said, the typical bail bond is instituted by a bal bondsman in the form of 10%. Upon the repayment of bail to the arrestee who has appeared at their hearing, the bail payment is then transferred to the Bail Bonds institution. In certain cases, a form of collateral will be expected to be exchanged for the Bail Bonds dispersed by that institution; this is in addition to the required initial payment.
What is a Bondsman?
A bail bondsman or bond agent is an individual or company who operates independently to offer surety bonds to a specific court of law. Surety bonds are delivered to accused criminal defendants who are required to appear before a court system at a future date; bondsman, through the delivery of a surety bond, will affect the release of an accused individual who would otherwise be held in jail till trial.
The services offered by a bondsman are made possible through various contractual agreements that are pre-set with the court systems in various states and counties where the bondsman conducts his or her business.
Under these contractual agreements, the bail bondsman is permitted to make a “blanket” bond to the underlying court system; this payment is typically 10-15% of the total amount of bail that was originally set for the accused party. In essence, this contractual agreement, establishes a guarantee to the court system that the defendant will return to the court system to stand trial on his or her expected court date.
Advantages of a Bail Bondsman:
By acting as a guarantor to the court system, the bail bondsman affirms to the state or county that the individual will show up to his or her court dates. In addition to this guarantee, the ability to be released from jail prior to the individual’s court date enables the court system to operate their jails without facing severe overcrowding. The withholding of these individuals from jail, thus enables the court system to cut back on costs, related to food for example, that would otherwise be needed if the individual was held in jail until trial.
Bail bondsman also has access to certain securities that are required to furnish the bond to the court; these securities are available 24/7, even if the creditor is closed. This availability is made possible due to securing special arrangements with credit providers; these arrangements are used to access a line of credit outside of a business’ operating hours.
The ability to access a line of credit enables the defendant to be released with hours of presenting the bond to the court. That being said, the primary advantage of a bail bondsman is that the agency or individual saves the defendant and his or her family from having to post the entire bail on their own.
Considerations associated with a Bail Bondsman:
To access a bail bondsman the defendant must be of character to adhere to the release agreement established by the court system. For bails that are set high, a form of collateral will be required in exchange for the bail bondsman’s services; if the defendant fails to appear at court, the bail bondsmen will take possession of the collateral (typically a car or property). Additionally, the bail bondsman has the right to dispatch a bounty hunter to locate and return the defendant to court.
Fees associated with a Bail Bondsman:
A bail bondsman will charge a percentage fee of the total amount of bail set; the fee is typically 10 percent but will vary based on agency and state law. This percentage sum provides the surety that the court will accept in lieu of the full bail amount. That being said, this percentage typically represents the bondsman’s fee and is not returned to the client when the defendant appears for his or her court date.
Bail Bondsman Explained:
A bail bondsman is any individual or agency that will act as a guarantor and pledge money or assets as bail for the appearance of an accused criminal defendant in court. The bail bondsmen thus assumes the bail responsibilities of an individual, in exchange for collateral and fees, to offer a guarantee to a specific court system that an alleged individual will show up for his or her trial or court dates.
Bail bondsmen are almost exclusive to the United States; although financial institutions or insurance companies act as the typical guarantor for other types of contracts, these entities are reticent to put their funds at the specific risks involved with posting a bail bond.
All bail bondsmen have a standing agreement with local court systems, where they will agree to post an irrevocable bond, which will pay the court system if the defendant for whom the bail bondsmen represent does not show up to their specific court dates. In turn, the bail bondsmen also has an agreement with an insurance company or credit provider to draw on such security; this relationship eliminated the need for a bail bondsman to deposit cash or assets with the underlying court every time a new defendant is bailed out.
A bail bondsman will typically charge a fee of 10-15% of the total bail with a minimum of $100, required; these numbers will fluctuate based on state law and the operating bail bondsman’s own agenda.
If the accused individual does not show up to their court date, the bail bondsman is allowed, by law or contractual agreement, to physically bring the defendant to the court in order to recover the money paid out under the bond—this practice is usually expedited through the inclusion of a bounty hunter.