Finding a Reliable Bail Bonds Agent
What’s an Agent for bail bonds?
A bondman also known as a bail bonds agent is someone who can offer a loan to a criminal defendant in court (be it money or any form of property) as bail. A bond agent offers a similar service that you would expect to receive from a bank, but a bank would of course be more hesitant to provide a loan to a criminal defendant for reasons of liability. A bail bond business is typically comprised of individual bondholders who work for a corporation or represent it. The bondsmen we know about in the U.S. are found only within the U.S., and to a lesser extent within the Philippines. Practicing bounty hunting has been outlawed in most countries because it tends to correspond with what might be considered kidnapping.
In 1898 the McDonough family began the profession of bond agents in the U.S. in San Francisco. Bondsman typically requires a deal with local court systems to provide a blanket bond that pays the defendant’s bail if it does not appear on their assigned court date. Besides this, a bondholder will usually have an agreement with an insurance company, bank, or financial institution to draw on funds outside their normal hours of operation. In many states like California, a bail bond agent must have a lengthy arrangement with the California Insurance Department to begin their practise.For more information, visit their website at Connecticut Bail Bonds Group.
The laws concerning bail bond agents vary within the United States of America, from state to state. Typically, interest or fees on a loan from a bond agent are within the range of 10 per cent-15 per cent of the total bail amount. Some states have a minimum fee that must be paid in case a percentage of the total bail amount does not meet that amount of the fee that the state provides. Depending on the bail amount, a bond agent may in some cases take collateral or a mortgage (not just for homes) to obtain the full legal bond amount provided by the courts. Some states incorporate a system for the criminal defendant to post a cash bail directly to the court for typically 10 per cent of the full bond amount to circumvent a Bondsman’s need. Bondholders need to be licenced by the state and sometimes county they practise as they work closely with records of law enforcement and financial institutions.