Learn About The Bail Bonds Process?
If you watch the news regularly, you will frequently hear about people being arrested but being set free because they posted bail. Perhaps the reporter might say: “Notorious Frank was arrested in Florida last week, but walked out of the jail Monday morning after his wife posted bail.” What does it mean to “post bail?” What are bail bonds? If someone walks out of jail on bail, does that mean they are free?
For many of us who have never been arrested or taken to jail, the entire business surrounding bail and bail bonds is foreign to us. Let’s take a few minutes here and explain exactly what bail bonds are, how the bail industry works and who it benefits.
When someone is arrested (we will call them the defendant), they are not arrested for committing a crime — they are arrested for suspicion of committing a crime. After an arrest is made, the defendant is taken to jail and “booked.” It is during the booking session the defendant is fingerprinted and the infamous mug shot is taken. Generally during this process the defendant is permitted to make a statement. After the booking is completed the defendant is taken to jail to await his or her trial — unless they are able to post bail.
Bail bonds are financial instruments that an individual or company, called either a bail bondsman or a bonding agency, posts on behalf of the defendant. A bond is a promise that the full amount of the bail will be paid to the court if the defendant does not show up for his or her appointed court date. When bail is posted the defendant is free until their scheduled court appearance.
It might be noted that some defendants nave sufficient liquid assets and can therefore post their own bail. They post cash, property or other assets. It is when a defendant lacks the sufficient assets to pay the bail amount that he or she calls a bail bondsman.
The bail is held by the court to ensure that the defendant returns to court on his or her appointed date. If the defendant does not show up for their court date, the bail is forfeited to the court. When the bail was posted by a bonding agency, the agency is put at risk. It is at that point that bounty hunters are often hired to hunt down the defendant and bring them into court.
How do bail bonding companies make money? It is fairly routine for a bonding agency to collect an up front cash payment payment if 10% of the bail amount. For reasons that should be obvious, most bonding agencies require collateral equal to the amount of the bail. The defendant may use their home or other property as collateral. Should an individual not have sufficient collateral, relatives or individuals close to the defendant may decide to help and pledge their assets for the bail. Because the bondsman’s fee was collected up front, the collateral will remain untouched unless the defendant fails to appear in court.
When a defendant does not show up for his or her court appointment the bonding agency has the legal right to sue the defendant for any money they paid the court in the defendant’s behalf. The bonding agency may also sue co collect on any additional collateral pledged as surety for the bond.
Bail bonds are used every day all over the country. In the criminal justice system they are very common and both the bonding agencies and the courts understand fully how these bail bonds work. Let’s hope that you never have to find out personally!
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