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There are several types of bail agents or bondsmen as they are commonly called.
The most common bondsman works unders a surety (insurance) company. They are licensed insurance agents. The bondsman will pay any where from 10 to 20% of the bail bond premium fee , ( the 10% of the face value of the bail bond), they collect from a client, to their surety company.
In other words, the bondsman gets to keep 80 to 90 percent of the bail bond premium fee they collect. The rest goes to the surety company.
Another type of bondman is a professional of property bondsman. In this case the bondsman pledges real property with the state of county that they wish to operate in, as collateral to gaurantee that they can pay off any bond they write if the defendant skips bail.
This bondsman, keeps the full amount of the bail bond premium fee that he or she collects.
The last and least common type of bondsman is one that pledges cash or securities with the state or county they operate in in. Again, this collateral is used to guarantee the ability of the bondsman to pay off a bail bond if the defendant fails to appear and can not be located and returned to court or jail.
Since this bondsman is pledging his or her own money, they keep the full amount of the bail bond premium fee collected.
The term bondsman is gender neutral. Slightly over half of the bail agents in the U. S. are women.
What else can I help you with?
What kind of activity is bail bonding?
Bail bonding occurs when a bail bond agent pledges money as bail for an individual who is accused of a crime. While this is a common practice in the United States, it does not occur in most other countries.
Which bail system requires the defendant to pay a percentage of the bond to a bonding agent who then posts the full bail amount?
Surety bail system
What is a commercial bail?
Commercial bail refers to those instances when the bail bond is posted by a bail bondsman. Commercial bail is often referred to as surety bail bonds. When commercial bail is used, the bonding company is an insurer against the defendant failing to appear in court. The insuring bonding company's premium for is a percentage of the total bond amount (usually 10%).
What is a principal in Bail Bonding?
In bail bonding, the principle is the defendant for whom the bail is posted.
Can a bail bondsman legally offer bail at 5 percent?
The answer to this questions varies from state to state. In some states five percent bail bonds would be legal. In others in others (such as Indiana) bonding out folks at five percent would be a felony.
Can the bail bondsman sue the bonding person for the total of the bail bond?
I believe that the terminology used in the question is mixed up. The bailbondsman IS the bonding person. If the defendant he has posted bail for absconds on him, the bond he posted is forfeited to the court, and he certainly CAN sue both the defendant AND anyone else who signed the bail contract, for the recovery of his lost bond.Another alternative is for him to send a "bail-agent" (bounty hunter) after the defendant. If he returns the absconding defendant to the court, that is the only way he can recover his money from the court, but he still may sue to recover his costs of hiring the bail agent out to recover the absconder..
Can a bail bondsman kept the bond for their fee?
When someone gets a bail bond, they pay a non refundable fee to the bail bond agent. This is called a premium. It is similar to any other insurance product that you purchase that involves the payment of a premium to the insurance company (in this case the bail agent...who is actually an independent contractor of an insurance company). Other than this payment, the bail bond agent does not receive any additonal fees on a straight bail bond transaction. There are some very good videos explaining the process at ExpertBail's website under the Video FAQ section.
Where can one get immigration bail bonds?
"A person can find out about immigration bail bonds from an immigration bail bond company,from a bail bond agent, from a courthouse or from a government office."
Can a person who does not have their bail agent license share ownership rights to a bail bonds company?
Yes, they can share ownership, just so long as he himself does not act as a bail agent. Bail agencies need a deep pockets investor. They invest their money in the business and make a profit from the percentage that the agency charges to write bonds for defendants.
If a bail bond is exonerated do you get a refund from the bail company where you posted bail with?
Exoneration of a bail bond simply means that the defendant has been adjudicated and the bail liability has been released from the bail bond agent.When a bail bond is posted and a fee is charged by the bail agent that fee is non-refundable no matter if the charges are never filed, the defendant gets parole revoked and put back into custody, or the defendant is adjudicated.
how do you start a bail bonding company?
Sure there are! Just visit www.snagajob.com and locate custodial work in your area. You can also visit www.craigslist.org for employment opportunities in your area.
How do you start my own bail bond surety company in new jersey?
That's a big undertaking. Becoming an insurance company takes an enormous amount of capital and a lot of approval from the department of insurance. The better approach may be to get your insurance license and get an appointment with a bonding company to work as an agent first. The next step may be to become a general agent for the company, and finally a wholesaler. Insurance companies generally need servicing agents to administer insurance and even calculate the cost of insurance.
