A bail bondsman gives the surety of bail for a defendant in a court of law. Banks, insurance companies and other lending institutions are usually reluctant in the risking of their money for posting of bails. A bail bondsman, however, take it upon themselves to cater for the accused in court and securie their release.
It has been noted throughout history that defendants who are released via bail bond show up repetitively in court compared to defendants released via some other ways. These agencies agree to a blanket bond, which is an irrevocable fee for failure to show up in a court of law by a defendant. There is usually an agreement between the bail bondsman and a financial institution to cover the security. This enables the bail bondsman to access funds at any time without having to deposit his own funds when required.
There are procedures and steps taken to pass as a bail bondsman. The first thing is that you have to be licensed in order to partake in the business. You have to be in agreement with an insurance agency that will help you in the undertaking of the business. The bond agent usually charges a certain amount of money in percentage of the bail issued that is dependent on the type of charge.
This percentage paid to the bail bondsman is usually payment for the rendered services and is not refunded. The accused may also be expected to cover some expenses incurred by the bail bondsman attributed to the subject. The bail bondsman can arrange for a down payment then the rest of the money is paid by monthly installments. However, there is usually a limit time drawn for the total payment. The stated time usually depends with the agreement reached between the defendant and the bail bondsman.
Some assets can be stated as collateral for the agreed amount between the defendant and the bail bondsman. The assets quoted act as collateral in the event of failure to complete the bail payment. The law allows for the bond agency to get the defendant and bring him to the court jurisdiction. This enables the bail bondsman to recover the amount paid under the bond. The bond agent can file for a case in court in the event where the defendant does not appear in court. This provides a guarantee for the accused to appear in a court of law aft being bailed out.
To become a bail bondsman you should also be a law abiding citizen without any record of breakage of the law. The service rendered by a bail bondsman or a bond agency has really helped a lot of people accused of crimes. There are few countries, however, in which this practice is found while in many other countries, the practice is outlawed.