This is a person, corporation or entity that acts as a guarantor and vows money or property for bail to secure temporary release of a defendant. 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. The court is guaranteed some money by the bail bond agent in the case where an accused does not appear in court as required. The agent usually has the backing up of a bank in such a scenario. By this a bond agent is covered and backed by a bank or any other financial institution.
There are usually a number of requirements that need to be met for one to qualify 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.
The service fee demanded by a bail bondsman can not be refunded since it is the payment for the service given. The bail bondsman may also bill the defendant for other expenses incurred during the process. The bail bondsman can arrange for a down payment then the rest of the money is paid by monthly installments. There is usually an expiry time by which all the money needs to have been paid. The stated time usually depends with the agreement reached between the defendant and the bail bondsman.
Some security can also be provided for by the defendant. The assets quoted act as collateral in the event of failure to complete the bail payment. The bail bondsman is usually allowed by the court to bring in a defendant who fails to turn up in court. 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. Bail bondsmen have been really helpful to defendants who would have rather missed a bail. Bail bondsmen are only found in just a few nations due to the banning of the service in most nations.