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Bail Bonds Agent

What is an Agent for Bail Bonds?

A bondman also known as a bail bonds agent is someone who will provide a loan to a criminal defendant in court (be it money or some 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 company is usually comprised of individual bondholders who work for an organization or support 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.If you’re looking for more tips, Connecticut Bail Bonds Group has it for you.

In 1898 the McDonough family started the trade of bond agents. Bondsman usually requires a contract with local court systems to include a blanket bond that covers the defendant’s bail if it does not appear on their scheduled 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 a bail bond agent must have a lengthy arrangement with the California Insurance Department to begin their practice.

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 only for homes) to obtain the full legal bond amount provided by the courts.

Author Since: Mar 21, 2020

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