You have to understand the role of a surety bail bond agent when hiring bail bonds service, Hartford, CT. People find the regulations and laws within working with a surety bail bond agent tricky. Some court cases lead to higher bail amounts for the accused to be realized before the case is concluded.
The bail bond comes in when the quoted amount is more than the accused can pay. A surety bail bond agent will collect a non-refundable amount from the accused and cater for the bail amount required in court. The agent will be responsible for tracking the accused when they fail to appear in court. A surety bail bond agent can be independent or represent a bond company.
The bail bond is a loan whose interest is catered to by the non-refundable amount the accused pays after seeking help from the agent. Bail bonds regulations differ in different states, with reforms being made from time to time to ensure safety and legitimacy while practicing this business. Due to frequent changes in the laws revolving around bail bonds, you should have enough information before calling an agent. Below are details that ease your understanding of the role of a surety bail bond agent and the laws that should be followed when dealing with one.
Surety bail bond agent license
Bail bond agents need to be licensed to give bail bonds legally. The agents must meet a specific education requirement with proof of certificate to get their license. They usually start with insurance companies, and later the insurance company can certify an agent to give bail bonds. They will have to pay the company a premium once they issue bail bonds, and in case the accused fails to be traced afterward, the agent will pay the loan.
The accused must show up at the court for all hearings to ensure the bail bond agent will receive the bail cash after the case is complete. By law or agreement of the paperwork an accused fills in while working with an agent, the agent is legally allowed to trace down the accused if they fail to show up in court and bring them to get a refund of their money. If you did not pay the percentage of the non-refundable cash you agreed to in the beginning, the bail bond agent can take property as security until you pay. The agent can transfer ownership if the accused fails to cooperate with the court as per agreement.
You have to fill in some paperwork when seeking help from a surety bail bond agent. Due to the risk of being responsible for your appearance, the surety bail bond agent documenting everything on an agreement form is essential. The agent will require you to sign some paperwork before releasing the bail cash. You will also need to pay the percentage agreed or sign off any collateral you are giving as security. Surety bail bond agents also have paperwork that shows the agreement you will be calling or checking in with the agent in person while the case proceeds to ensure you appear in court during your hearings. The accused is advised to consult an attorney before signing paperwork to avoid misunderstanding in the future.
Bail bond premium
Bail bond premium is the amount the accused will pay the surety bail bond agent before the court decides on the case and issues its final word. The premium, in most cases, is ten percent of the bail bond cost. The agent can also acquire collateral forms, which will help in ensuring the defendant cooperates and follows the court’s requirements while released on bail. Bail bond premium acts as payment to the surety bail bond agent. The percentage bail bond premium might be more than ten percent if it is a federal bond. Contacting the bail bond agent and asking for all the vital information is a smart move before deciding if the bail bond is the best alternative.
Some regions do not allow agents to give bail bonds for profit. It is vital to check the regulations of your region before looking for a bail bond agent to avoid further legal problems. Contacting a lawyer to do the research or reaching out to a legal professional will be helpful. The legal reforms that limit bail bonds have touched on the imbalance in the industry because surety bail bonds are only available to people with high bond costs for the bond premium to be high.