Some Information on How a Bail Bond Agent and the Bail Bond system works
A bail bond is a guarantee by a third-party( the co signer on a bond) that a defendant in a court action will appear to all his/her criminal court proceedings. The Bail Bond is given in return for the release of the defendant from court custody or jail..
Bail Bond Agent: A Bail Bond Agent (also referred to as a Surety Agent, Bail Bond Agent, or a Bail Bondsman) is an individual appointed by an insurer to execute Bail Bonds in connection with court proceedings and who receives, or is promised, money or other things of value (collateral) in return for issuing a bail bond. Bail Bond Agents in Florida are regulated by The Florida Department Of Financial Services.
Bail Bond Premium: The premium for a State bond is 10% of the total amount of bail set by the Court. The premium for a Federal Bond is 15% of the amount of bail set by the Court. The premium, once paid is (nonrefundable) once the bondsman takes the defendant out of jail. The only exception for a premium refund would be case where the Bondsman returns the defendant to jail without proper reason.
Every bail bond agent who accepts money for a bail bond must provide the person paying the money a numbered receipt for proof of payment. The receipt must show: the date, name of the defendant, amount of money received for the bond, the number of Power of Attorney form attached to the bond, the penal sum of the bond, the name of the person making payment , and the name, address and phone number of the Bail Bonds Company and Agent.
Collateral: Collateral is better described as property accepted as security for the bail bond being written. In a bail bond situation, the collateral is held as a guarantee that the defendant will appear at all court proceedings. The collateral is returned once the bail bond has been discharged by the court. Not all bail bonds require collateral.
Bail Bond Contract:
The contract between a defendant and a surety for a bail bond sets forth certain terms and conditions, such as: The right to apprehend, arrest and surrender the defendant to the proper officials at any time provided by law. What are some reasons to cause a defendant to breach his/her Bail Bond obligations?
If the defendant:
*Departs the jurisdiction of the court without the written consent.
*Moves from one address to another without notifying the Bail Bond Agent in writing prior to.
*If the defendant commits any act which shall constitute reasonable evidence of
the defendants intention to cause a forfeiture of the bond.
*The defendant is arrested and incarcerated for any offense other than a minor traffic