Bail bonding, which is the most commonly misunderstood professional in our legal system, is most likely one of the most confusing. Many people who come in contact with bail bonds on a regular basis, such as lawyers, clerks or magistrates working within the criminal justice process, are able to give the most basic explanations. The stress of having someone close to you incarcerated will also make this difficult. Evidently bail bondsmen are more competitive than others when it comes down to negotiating terms and conditions of their service. Get More Information
Without any understanding of this mysterious profession, how can one ensure that they are only paying reasonable prices?
Let me be clear. The purpose of this article will only cover bail bonding. It is not intended to give the reader the information necessary to secure the best deal. I am not going to describe the entire bail bonding process as it is unnecessary to understand all the details to get the best price. We also need to mention large bail bonds. It is unlikely that any bail bondsman will engage in heated negotiations about a $1,000 bond. You will either have to pay or your bailee can stay in jail.
The difference between Property and Surety bail bondsman is a mandatory topic that must be discussed in order for you to limit your negotiations to bail-bonding companies that are actually able to help. First, let's look at the typical bond.
The price of a bail bond is usually 10% of its amount. A bondsman will typically charge $100 to put up a $1,000 bailbond. This is the norm in this industry. It is customary to tell clients that this price cannot and will not be negotiable. This is only partially true. This is where the importance of understanding the two types and relationship between bail bonding firms and collateral comes into play. bail bonds Canton Ohio
Most bail bondman worldwide are Surety bail Bondsman. These are individuals whose businesses have no collateral to support the bail bonds they write. Instead of using real estate, bail bondsman partner with an insurer who provides collateral for the bail bail bond. Because an insurance company is involved, Surety bail agents are considered insurance agents. They must possess a property and casualty license. Because bail bonds are a type insurance, the 10% rate or "premium" is fixed and cannot be changed by the bondsman. This is the rate filed by the insurance company with the Comissioner of Insurance.
