Bail bonding is undoubtedly the occupation with the most confusion in our legal system. Lawyers, assistants, and criminal justice magistrates who are subject on a daily basis to bail bonds can often provide the most clear explanation of the process. This is compounded by the fact that most citizens who are in a position to need a bail bondman (or at least think they do) will often find themselves in a confused state due to the stress of having a loved one in jail. Needless to say, bail bondsman seems to have more than a competitive edge when it comes to negotiating terms and conditions of their operation, if any bargaining is completed. By clicking we get more information about the 24 hour service
So how does a person with no understanding of what this enigmatic occupation actually means make sure they don’t pay more than is reasonable?
Let me start by stating clearly that this article is intended to explain only enough about bail bonding itself to give the reader sufficient knowledge to get the best price. I do not intend to outline the entire bail bonding process because, in reality, the details need not be understood to get the best price. Additionally we are discussing LARGE bail bonds. No bail bondman will be interested in entering into tense talks over a bail bond of $1,000. Either you pay the fee, or your bailee would still only stay in prison.
There is one compulsory subject that needs to be covered in order to limit the deals to bail bonding firms that are genuinely able to help you, and that’s the difference between bail bondsman regarding protection and properties. That is going to be covered early, first let’s look at the standard bail bond.
The generally accepted price for a bail bond is 10 percent of the bond amount, so a bondman can charge you $100 to post a bail bond of $1,000, for example. Telling clients that this price is completely non-negotiable is common practice in this industry because the percentage rate is set by law and can not be changed. Only partially, that is true. This is where the importance and understanding the two types of bail bonding companies comes into play and it has everything to do with collateral.
Surety bail bondsman- Surety bail bondsman make up the bulk of the bail bondman in the world. These are individuals who’s companies have no real collateral of their own to back up the bail bond they are writing. Instead of using real property the bail bondsman partners with an insurance company who actually provides the collateral for the bail bond. Because an insurance company is involved Surety bail bondsman is really a type of insurance provider and as such must have an insurance policy for property and casualty. Because these forms of bail bonds are really a type of insurance the “premium” or cost (the 10 percent) IS set in stone and can not be changed by the bondsman. This is the amount to which the insurance company has filed with the insurance commissioner and must therefore be adhered.