What is a "premium"?
A "premium" is the amount paid to some Bail bonds company for the many services and financial risks assumed through the Bail Bond Company, with respect to the defendant. The quantity of this premium It's my job to 10% from the amount of the bail, even though some bail bond companies offer discounts as high as 2% under special circumstances. This really is much like payment of any premium to have an insurance plan.
Are Bail Bond Agents licensed and registered?
Yes, Bail Bond Agents must undergo a criminal record check, pass a 4-hour examination, and acquire a license from the California Department of Insurance. To maintain the license, agents must attend 8 hours annually of continuing education.
Just how much does a Bail Agent Charge?
A bail agent charges the quantity of the premium.
Just what Bail Contract and what are the main terms?
A Bail Contract spells the relationship and obligations of the defendant, the court, the bail bonds company, the surety insurance provider behind the text, and the indemnitors from the bond.
What's the duration of the bond?
A bond is within effect until the defendant completes his obligations to the court. This results in that it ends when the defendant appears in the court when scheduled.
Exactly what does a bail agent do for that consumer?
With his/her cash on the line, a bail agent includes a financial curiosity about supervising bailees, and making certain they appear for trial. If a defendant "skips," the bail agent has time and the financial incentive to locate him/her and bring him/her in. Significantly, commercial bail bond agents profit only if the defendant shows up for trial.
Collateral is generally supplied by relatives and friends from the defendant and offers added financial security to ensure the defendant appears in the court when he or she is supposed to. Collateral could be as anything of financial value that's legally pledged to support the promise that the defendant can look on his / her appointed court date.
What goes on when the defendant does not appear?
This really is considered a "forfeiture."
What does "forfeiture" mean?
A forfeiture occurs if your defendant fails to come in court as scheduled. In this event, the bail bonds company has approximately 6 months to "surrender" the defendant to the court without any financial consequences. If the does not happen, the text is payable towards the court by the Bail Bonds Company.
Is the premium paid refundable?
No - the premium amount is for the many service provided by the Bail Bonds Company to release the defendant from jail and ensure he appears in the court. The fees are not refunded when the defendant appears in court - whether or not the charges are dropped.
When do I get my collateral back?
Collateral is returned to its owners immediately following the payment of all premiums and also the "exoneration" from the bond through the court. If your forfeiture occurs, collateral may be lost.
Exactly what does "exoneration" mean?
A bond is "exonerated" once the defendant appears in court as scheduled. Which means that neither the folks who supplied collateral or the Bail Bonds Company has any further financial obligation to the court in mention of the the defendant's case.