How Bail Bond Agency Make Their Money

Author: No Comments Share:

Bail bondsmen or bail bond agency make their money by lending money to the people for bail. In the actual process the family or the friend of the suspect happens to pay the agent about 10 % of the bail to make the loan of this bail. This 10 % is the bail bond agencies fee which is non refundable when the case gets over.

Whatever the bail amount is ordered by the court the bondsman will pay the entire amount as a surety bond to the court provided the suspect makes the entire court appearances on the dates offered. The surety bond will then get dissolved at the end of the case and the 10% of the bail which was given to him at the beginning becomes his profit.

But on the other hand if the suspect does not make his appearance in the court then the bail bond agency has to make the entire payment. The agent with the help of some other resources will have to go hunting for the suspect and force him pay the entire bail amount.

The bail bond therefore never agrees to make bail for just anyone. He tries to check every positive and negative aspect before considering evaluating the bail amount for the defendant. Because of the undue problems which the agents have to face, the agents ask for prefer to have co- signer to the bail contract. The co-signer could either be a relative or a friend who will take the assurance to repay the entire bail amount to the bondsman as a surety bond submitted to the court. Secondly the co-signer becomes the surety to the bondsman.

The bail bondsman earns on commission basis which means that he gets a certain percentage of the bonds recovered when the suspect returns to court without fail. Then once the case is dissolved the bondsman will get the commission on the bail amount.

Bondsman asks for collateral along with the 10% fees which they take. The collaterals can either be a piece of land, or a house, stocks, any kind of policy, vehicle or even ornaments. One should remember that if the defender is not able to go to the court on the given date then the collateral item will be forfeited. If the defendant is absconding then the bondsman can arrest him with the help of the recovery agent and can be kept in the custody.

The bondsman always charges additional fees, as they have to renew their surety bond every year. If the case runs for the whole year then you have to pay the bondsman more money. This is how the bondsman makes their money. The more you work the more you earn, at times you may lose if the suspect skips and if you are unable to trace him out.

Previous Article

Grease traps helps to prevent heavy-duty restaurant waste to obstruct the disposal system

Next Article

Corporate entertainment trends 2015

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *

yYq0Ck