What is Bail Bondsman?

You’ve probably heard on the news, “This person has been released on bail.” But what does this really mean? What is a bail? How does it differ from a Bail Bondsman?

The judge may decide to let the defendant off on his or her own recognizance, or the defendant may be released on bail until the court date.

Bail bonds are not offered by Surety Solutions (Surety Solutions). This is a post intended for informational purposes.

In what sense does bail apply?

Defendants have the option of paying their bail in cash, but many are unable to do so. Bail is like an insurance policy between the court and the person in jail (the defendant).

Defendants often cannot post bail on their own since bail is typically set at a high amount. The bail agent posts them a Bail Bond, which they can get from a Bail Bondsman.

How do Bail Bonds work?Bail Bondsman

Surety bonds are issued by a surety bond company through bail agents or Bail Bondsmen to secure a defendant’s release from prison. Bail bonds come in two varieties:

Criminal bail bonds guarantee the defendant’s appearance at trial when required by the court, and the payment of any fines or penalties assessed against him. Bail Bondsman.

An appeals court will issue a bail bond if the judge finds the defendant to be not in default and to continue with the proceedings.

Also Read Do You Get Bail Money Back

What is the process of getting a bail bond?

Bail is set by a judge. If the defendant cannot pay the bail amount on their own, they can seek help from a Bail bondsman in the form of a Bail Bond. Bail Bondsman.

Bail bondsmen usually require defendants to pay 10% of the bail amount to post a bail bond.

Collateral is then provided by the bail bondsman to secure the rest of the bail amount. When a defendant lacks collateral, bail bond companies may ask family and friends for help in paying bail.

For a Bail Bond to be posted, an additional amount of cash, plus full collateral, is usually required.

A defendant’s next step depends on whether he or she appears in court. Bail Bondsman.

Bail Bond forfeited if defendant does not appear in court. Court asks for payment of remaining 90% of bonds if defendant fails to appear in court. By using the defendant’s collateral (house, jewelery, stocks, etc), the Bail Bondsman can pay the remaining amount of bail to the court.

In the event that a defendant does appear in court: The Bail Bond is dissolved when the case ends and the collateral is returned to the person who posted the Bail Bond. In exchange for the 10% cash fee, the bail bondsman keeps 10%.

Also Read Aladdin Bail Bonds: How does bail work?

Example of a bail bondsman

John is arrested, for example. The court set John’s bail at $10,000. John wants to be released from jail but he does not have $10,000 in cash, so he seeks help from a Bail bondsman to post a Bail Bond for him.

To release John from jail, the bondsman needs $1,000 to post a Bail Bond for John.

John’s family or friends are required to provide collateral for the remaining $9,000 in bail. Cars, houses, jewelry, etc. are all examples of collateral.

John will need no further money after appearing at all of his court dates, and the Bail Bond is dissolved after John’s case is concluded. The bondsman will keep the $1,000, which John will not receive back, because that will be profit.

If John does not appear in court, though, the bondsman would have to pay the court the remaining $9,000 of bail. To do this, the bondsman would use John’s collateral.
A refund would be due to John regardless of whether the case is successful or unsuccessful.

Also Read Aladdin Bail Bonds: How does bail work?

Bail Bond: How to get one

The majority of surety companies (including us at Surety Solutions, A Gallagher Company) do not write bail bonds because of the underwriting difficulties associated with them. To write a bond, especially a bail bond, is a risky endeavor.

The surety bond company is liable for the full bond penalty if the defendant fails to appear in court. In order to recover any penalty, the surety company, by nature, would seek compensation from the defendant.

Bail bondsman are prohibited in some states (Illinois, Kentucky, Oregon, and Wisconsin). These states still have Bail Bonds, but the 10% payment of the bond goes to the court and not a bondsman.

Understanding Bail Bonds’ risks is important. A Bail Bond Underwriter will examine the whole picture, including the individual’s personal life, financial situation, family circumstances, and the case itself, before issuing a bond.

In many cases, the defendant is required to provide indemnification or cosign for approval.

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