- What are “Bail Bonds” and how do they work?
- How much does a Bail Bond cost? Is it refundable or is it a fee?
- What’s the difference between the bail amount and the premium amount I pay?
- How can I purchase a “Bail Bond”?
- How long does it take to get released after I purchase the bail bond?
A bail bond simply refers to a promise that is signed by a defendant and a surety in order to make sure that the accused will be in court at the scheduled time and date that is set by the court. It is also up to the court to set the bail amount.
An individual will be released on bail and the premium amount is collected by the bondsman.
Bail bonds are usually set at 10% to 15% of the full bail amount, and the fees are worked out by the surety companies which are regulated by the department of insurance.
The bail bond premium becomes fully earned and for that reason it is not refundable once the bail bond has been set and accepted by a jail or court
The bail bond is the amount the bail bondsman pays, while the premium is a set percentage the bonding company collects from you. For example, bonds over $10,000 will usually attract a 10% premium, so this would be a $1,000 fee the bondsman keeps, and there might be other fees involved too if additional issues arise.
You can purchase a bail bond by calling a local bail bond agent and having them walk you through the procedure involved and they should also take you through the process from beginning to end.
How long does it take to purchase a bail bond?
Purchasing a bail bond is a very simple process as long as you have all the required information. It can take up from 20 to 45 minutes depending on the complexity of the case to turn a bond in.
It is hard to determine this because it will depend on so many things that are out of the control of a bond agent. However, getting the paperwork done can take anywhere between 15 and 30 minutes.