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What Is a Bail Bond Company And How Do They Make Money?

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How Do Bail Bondsmen Make Money

The bail bond company is an entity that promises the money as a guarantee that an accused person in court will appear at an upcoming court hearing. Now let’s answer this question, how do bail bondsmen make money?

Bail bondsmen are companies or groups of individuals responsible for standing in as a surety to the accused. In other to hire this series, you will be charged some fees. This amount varies but is backed by law at 10% of the first $100 posted and 5% for every $100 after that.

Bail bondsmen enjoy a variety of work experiences and travel. The industry is also steady; people enter the court system regularly, so there is always plenty of work for a bondsman.

What Is Bail?

Bail is the conditional release of a defendant with the promise to appear in court when required—also known as a recognizance. Bail is based on the principle that the accused is presumed innocent until proven guilty. A person may be required to lodge money as part of their bail. The court holds the money until the trial has been completed. The money will be returned if the accused has met the bail conditions.

What Is a Bail Bond?

A bail bond is a form of agreement between a crime suspect and a bail bonds agent guaranteeing the suspect will return to court after agreeing to pay some amount of money ordered by the court. The bail bond is cosigned by a bail bondsman, who charges the defendant a fee to guarantee the payment.

There are two types of Bail Bonds:

  • Criminal Bail Bond: used in criminal cases and guarantees that a defendant appears for trial when called upon by the court and guarantees payment for any fines or penalties decided against the defendant.
  • Civil Bail Bond: used in civil cases to guarantee the debt payment, plus interest and costs, assessed against the defendant.

How Do Bail Bondsmen Make Money?

There are a few ways a bail bondsman collects income. Here are some:

  1. The non-refundable premium bail fee: That’s right, that fee doesn’t get refunded to the defendant if they appear in court on their court date. The bondsman keeps that fee. If the charges are dropped, the bondsman still keeps the money.
  2. Payment Plan Options: Sometimes, the defendant’s family or friends can’t afford the premium bail fee, so many bondsmen can work out payment plan options depending on qualifications.
  3. Collateral: The defendant may use the property as collateral for bail. This can include real estate properties. Collateral can also include stocks, bonds, credit cards, and bank accounts. The bondsman may sell this property to recoup the bail amount lost and for more than what was originally paid if permitted by state laws.

What Is The Average Salary of a Bail Bondsman?

Obviously, many people don’t know that bail bondsmen get paid, so they keep asking how Bail Bondsmen make money. A bondsmen’s salary can vary depending on your qualifications and experience. An experienced bail bondsman makes around $55,000 per year. In most cases, at the beginning of the bail bondman’s career, they make around $25,000-$30,000 the first year.

Types of Bail

Station bail:  A person arrested and brought to a Garda station can be charged by charge sheet and released on station bail to appear before a court on a specific date and time. They may be required to lodge money before being released from Garda custody.

District Court bail: When a person is brought before the court, the judge may release them on bail and set conditions attached to the bail. The person may be required to lodge money before being released from court.

The court may decide that an independent surety is required to guarantee the accused person’s appearance. An independent surety is a person who makes him or herself responsible for the accused person’s appearance in court. They promise to pay a sum of money to the court if the accused person does not appear as agreed. The court must approve the independent surety.

High Court bail: When a person is charged with treason, war crimes, murder, attempt to murder, conspiracy to murder, or piracy and genocide, the District Court does not have the power to grant them bail. Certain offenses under the Offences Against the State Act, 1939, and the Official Secrets Act, 1963 also rule out granting bail in the District Court. In those cases, the accused person or their legal representative must apply to the High Court for bail.

What is The bail Bond Process?

If a judge grants a crime suspect bail, they can contract a bail bondsman to help stand in as a surety. The bail bondsman will ensure the defendant pays the amount requested by the court while awaiting trial.
The bail bondsman receives a percentage for carrying out their job, usually around 10% of the total amount requested by the court.

Many licensed bail bond agents offer payment plans and a wide range of payment options if the defendant cannot cover the fee. These include credit cards, debit cards, and cash bail money.

Bail Bondsman: Risk Assessment

Every job has its hazard (risk). The first thing a bail bondsman will do when you hire them is a risk assessment to be sure of criminal history, crime, employment history, and other background checks. This process helps to determine whether they can stand in for you as a surety and guarantee that you would return to court for a continued trial.

If a person doesn’t show up to their court date, they will have to pay the full bail amount to the court, and because the bondsman paid the 10%, they are partially to blame if someone skips don’t show. However, if this does happen, it gives the bondsman the legal right to arrest the person who has skipped bail.

How do Bail Bond Companies Get Paid?

Bail Bond companies usually charge about 10% of the total amount requested by the court. For example, if a defendant has a bail set at $100,000, then the bail bonding agency will charge the defendant $10,000 as a down payment for the bail amount. The bonding agency will give the court a total of $100,000, but only as a guarantee that the defendant will show up to the court to stand trial.
However, if the defendant refuses to attend court, the bail bonding company loses the total money.

But, in most cases, if the defendant shows up in court, then the bail bonding agency will get a refund of the bail bond amount equal to one hundred percent, minus some administrative fees.

Are There Alternatives to a Bail Bond?

There are alternatives to bail bonds, but this strongly depends on the severity of the case and constitutional order. The defendant has the right to ask for some legal term e.g.

However, the judges still have to consider the following factors when setting a bail amount:

  • The defendant’s ability to pay,
  • The severity of the offense,
  • The defendant’s criminal record,

Bail Conditions

Bail conditions are the conditions set to ensure that the accused person presents themself to the authorities when their presence is requested. When a person is granted bail, some conditions for the grant may include the following: To appear in court on a certain date.

Final Verdict

Choosing a career in bail bonding is excellent, especially if you are familiar with the law. Bail bondsmen make a perfect amount of money depending on the number of cases they handle. Also, you should consider the risk factors before choosing any career.

How Do Bail Bondsmen Make Money: FAQ

What happens if I forfeit bail?

Forfeited bail does not end the case. Failing to appear for a court date will result in issuing an arrest warrant for the capture of the person.

What happens if I show up to all of my scheduled court appearances?

If a defendant shows up in court, then the bail bonding agency will get a refund of the amount of the bail bond equal to one hundred percent, minus some administrative fees

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