Pacte bonding is likely the most misunderstood profession in our legal process. Lawyers, clerks, even magistrates within the criminal justice procedure who are exposed to bail bonds on a daily basis can often on supply the most basic explanation of the process. Compound this with the proven fact that most citizens who find themselves in the position of needing a good bail bondsman (or at least thinking they do) are sometimes in a confused state due to the stress of having a adored on incarcerated. Needless to say bail bondsman tend to enjoy higher than a competitive edge when it comes to negotiating the terms of their services, if any negotiating is done at all.
So how does someone without any knowledge about what is really involved with this mysterious career make sure they are not paying more than what is reasonable?
Let me start with clearly stating that the intent of this article is to explain simply enough about bail bonding itself to give the reader adequate knowledge to get the best price. I do not intend to outline the complete bail bonding process because, in reality, it is not necessary to understand details to get the best price. In addition we are talking about LARGE bail bonds. No bail bondsman is going to be interested in getting into some heated negotiation over a $1, 000 bail bond. An individual either pay the fee or your bailee will likely merely stay incarcerated.
There is one mandatory subject that must be included so that you limit your negotiations to bail bonding companies which can be in a position to actually help you and that is the difference in Surety in addition to Property bail bondsman. That will be covered shortly, first enables look at the typical san antonio bail bonds.
The generally accepted price to get a bail bond is 10% of the bond amount, thus for example a bondsman will charge you $100 to post a $1, 000 bail bond. It’s common practice in this particular industry to tell clients that this price is completely non negotiable because the percentage rate is set by law and cannot be changed. This is only partially true. This is where the importance and understanding the two styles of bail bonding companies comes into play and it has everything to carry out with collateral.
Surety bail bondsman- Surety bail bondsman make up the bulk of the bail bondman in the world. These are men and women who’s companies have no real collateral of their own to back up the particular bail bond they are writing. Instead of using real home the bail bondsman partners with an insurance company who in fact provides the collateral for the bail bond. Because an insurer is involved Surety bail bondsman are really a type of insurance broker and as such must have a property and casualty insurance license. Since types of bail bonds are really a type of insurance the “premium” or rate (the 10%) IS set in stone plus cannot be altered by the bondsman. This is the rate that the insurance broker filed with the Comissioner of Insurance and therefore must be honored.
This is why when shopping around for a better price the first question that ought to be asked is “are you a Surety or Property protocole bondsman? “.
Property bail bondsman- In contrast a property pacte bonding company has pledged real estate as the collateral for any bonds they write and therefore are not obligated to follow virtually any pricing at all. The only limiting factor on price along with a property bail bondsman is profit vs risk. And also risk is everything.
So now knowing you must first find a property entente bondsman, how do you get the best price?
As stated earlier since property bail bondsman we look at discounting as income vs risk. The way to get me to discount our rate is to take away risk.
How do you do that? The number one most crucial thing to a property bail bondsman when calculating threat is the cosigner. A bail bond is a three event contract with the bail bondsman, the defendant, and the cosigner on the bond (an individual who is agreeing to be placed civilly liable for the full amount of the bail should the accused fail to appear at all their court dates) all being celebrations to the contract. Simply put, find the right cosigner and you can start looking rates in 8%-4% range. The bottom line is the bigger the bail connection, the better the cosigner, the lower the price.
So what is a good co-signer? Well, essentially a bail bond is a loan with the face amount of the bond. So you have to understand that these are generally risky loans and the bail bondsman wants a cosigner who they know they can 1-Easily locate (Lifelong regional resident, has financial or family obligations that would ensure it is difficult to relocate like school age kids and a mortgage) 2-Could feasibly pay back the full face amount in a sensible amount of time should there be a forfeiture (has a high revenue and or extremely stable job, a government employee by using a long work record)