The Art of Mastering Businesses
We are able to define a bail bond as that particular surety bond that is usually done on behalf of an individual with a company or a bail agent or bail bondsman and this will lead to the release of the defendant from jail. In this chapter, we are going to talk about bail bonding and how individuals are able to benefit from it and the various ways on how it works. A bail bond usually comes in when an individual has been set for a particular bail amount and they do not have the financial capacity to pay it and therefore they will have to seek the assistance of the bail bondsman to be able to raise the bail bond on their behalf so that the defendant may be released as the case continues. As much as the bail bonds agent will be paying the amount of money on behalf of the accused it is still important for the individual to be able to raise at least 10% of the bail amount so that the bail bondsman is able to secure the rest of the bail amount in form of a particular collateral.
There are many circumstances where you find that the defendant is not able to raise enough collateral that may be required, but when it comes to such kind of a situation, the bail bondsman will have to gather a couple of friends and relatives in order for them to see how they can be able to come up with a good collateral to stand in for the bail amount. Under normal circumstances, in order for the individuals to be able to cater for the bail bond amount, they will have to provide additional cash inclusive of the full collateral so that the bail bond will be able to be posted.
The moment that the defendant is able to raise the bail bond, what will then follow will be whether or not he will get to appear in court after he has been released. In the event that the defendant fails to appear in court, it means that the bail bond will have to be forfeited and the 90% that was represented as collateral will have to pay in full and this where the bail bondsman will use the defendant’s collateral to pay the court the remaining bail amount. In case the defendant gets to appear in court, the bail bond will have to be dissolved upon conclusion of the court case and the collateral will be given back to the individual who posted it and the bail bonds agent will get the 10% cash fee as his benefit or profit.