What are Bondsman?
How Bonds and Bondsmen Work
The bail bondsman will put up a fee for the release of a suspect on bail, the bondsman charges a fee of usually about 10% of the amount of money that is required to pay the bail. This initial fee is not refundable, even if the case is thrown out after the suspect posts bail. In the event that a defendant does not arrive in court on trial day, the bondsman can not only hire a bounty hunter to track the defendant down, but the bondsman then has a right to sue the defendant for money that was given to the court for the defendant’s bail bond. The bail bond agency may also recover any unpaid money by claiming assets that were owned by the defendant or those individuals that signed a contract to financial assist the defendant.
What is bail bond premium?
With a bail bond, you will pay a “bail bond premium” or fee to Grizzly Bail & Surety Inc. based on the amount of bail. The bail amount is set by the court.
What is bail bond collateral?
Collateral is anything of value offered to Grizzly Bail & Surety Inc. to guarantee the defendants appearance in court. Stocks, bonds, home mortgage, or most anything else of value may be used. Collateral is to be returned when the bail bond is exonerated
What is bail bond exoneration?
Once a defendant is sentenced acquitted, or the case is dismissed, the judge will exonerate the bail bond. At that time, responsibility of all parties involved would be terminated and, after all fees are paid, all collateral returned.
What happens when a person fails to appear in court?
If a defendant out on bail fails to appear in court for any reason, the judge will then do the following two things:
- Order the bail bond forfeited.
- Issue a warrant for the defendant’s arrest and one of the following must happen:
- The defendant must be surrendered to the court (arrested),
- Their bail must be re-instated within six months,
- The face amount of the bail bond must be paid to the county.
What is a bail bond re-instatement?
After a defendant has missed a court appearance, the bail agent may take the defendant back to court, submit a “Letter of Re-assumption”, and ask the judge to reinstate the bail bond. In most cases, the judge will honor the bail agent’s request. The bail agent and the court will charge a fee for re-instatement.