| Fugitive Recovery Network (FRN) http://fugitiverecovery.com/forum/ | |
| Question about bailing someone out of jail http://fugitiverecovery.com/forum/viewtopic.php?f=13&t=12764 |
Page 1 of 1 |
| Author: | Herdo [ Wed 11 Jan 2012 02:40 ] |
| Post subject: | Question about bailing someone out of jail |
I have a question about the bail bond process that I just can't seem to get a straight answer for. I know someone here will have the answer. Let's say I bail someone out that has had their bail set at $50,000. I charge them an upfront non refundable fee of $5,000 (10%) for bailing them out. I understand all of this just fine, but what I don't understand is, do I need to pay the courts the $50,000 upfront, or is that the reason behind being insured? To say, if the defendant doesn't show up, then the bail will be paid. I'm curious because if the entire bail amount needs to be paid upfront, it sounds like one would need quite a bit of money to get started as a bondsman. |
|
| Author: | KARMA [ Wed 11 Jan 2012 07:37 ] |
| Post subject: | Re: Question about bailing someone out of jail |
When a Bond is written you are technically writing . . . a Post Dated Check TO the Court. That check WILL be cashed should the Defendant FTA and you FAIL to produce him in the time that your State has allocated. |
|
| Author: | speezack [ Wed 11 Jan 2012 08:26 ] |
| Post subject: | Re: Question about bailing someone out of jail |
Allow me to add just a bit more, although LuVonda's answer is the bottom line... if you are a Surety agent with full liability you issue a "power of attorney" issued by your surety for the amount of the bond. The face amount is not payable unless the court orders it due to a "forfeiture" which can basically be for any reason the court deems. FTA is usually the case but not always... I personally have had courts forfeit the bond for reasons other than appearance, which is totally against the wording on most powers... since you as a bonding agent are issuing an "appearance bond" only... you are not guaranteeing compliance with any other conditions, but courts do what they want, period and the can and sometimes do hold the bondsman liable for the defendant violating other conditions.... like "conduct". If you are a posting agent, you are not liable for anything, period... you write the paper, collect the fee from your surety or general agent and that's that. The "check to the court" is actually from the surety down to you. Property bondsmen are fully liable also and in fact do write a check (not literally) which is held by the courts until adjudication. If a surety bond forfeits, the surety is the first one to suffer... they can in turn hit you for the face amount but they can be terminated in that jurisdiction or the entire state depending on the rules of that state and the bondsman may be out of business but liability for payment of the bond is on both shoulders, surety and bondsman. I will say this... if a bond forfeits and the bondsman for whatever reason, does not pay the forfeiture... you can rest assured that the surety will pay it... because they ultimately stand to be shut down and they more than likely will not let that happen... they may go after the bondsman but that will be after the fact. Some bondsmen are both surety and property, giving them a wider range of capabilities. Note that I am in Virginia, so my answer is coming from that state and may differ in yours. |
|
| Author: | B Williams [ Wed 11 Jan 2012 12:37 ] |
| Post subject: | Re: Question about bailing someone out of jail |
Bill M is right on with his explanation in my state as well. I'm PMing you a number to call, The guy is a Bondsman out of AZ his name is Bill. Might be good to talk with him . |
|
| Page 1 of 1 | All times are UTC - 8 hours [ DST ] |
| Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group http://www.phpbb.com/ | |