To post bail, some will pay their bail amount out of pocket. Others will turn to a quality bail bond organization to help them achieve freedom.
So then, how do bail bonds make money?
To help add more clarity to the bail bond process, our team explores the intricacies of the bail bond business and answers that question below.
A Bail Bond Company’s Relationship With Their Client
For many people, working with a bail bond company is a necessity in order to get out of jail rather than having to sit confined until they can see a judge. That’s because bail amounts can be prohibitively high and most people don’t have the cash required to pay what’s being asked.
For example, if you were accused of committing a crime and your bail was set at $50,000, would you have access to that kind of cash? If you didn’t, you’d either have to remain confined or get a bail bond.
A Bail Bond Company’s Relationship With The Courts
Bail bond organizations have agreements with courts locally, statewide, and sometimes across the country. These agreements allow them to get their clients out of jail with a phone call.
When a bail bond company gets their client out of jail, courts let them do so knowing that if a bail bond company’s client does not show up for their court date, the bail bond company will be irrevocably liable to pay the court the full bail amount as a penalty.
How Do Bail Bonds Make Money?
Now that you understand why people get bail bonds and the risk bail bond companies take on with courts by bailing their clients out, we can answer this article’s key question.
In order to stay operational and mitigate the risk involved in bailing out their clients, bail bond companies will charge clients a non-refundable fee for posting bail on their behalf. This fee is typically a percentage of their bail amount.
So, in theory, if a client’s bail was $20,000, a bail bond might charge that person a 15% premium or, $3,000 to post bail on their behalf.
Wrapping Things Up
As stated, the answer to “how do bail bonds make money” is that they charge clients a fee. That fee not only helps bail bond organizations stay in business but also mitigates the risk they run of their clients violating the terms of their bail.
If a loved one is in need of help posting bail, “A Be Out Bail Bonding” can help.
We’re open 24 hours a day and are the number one Greenville, NC bail bonds service.
Contact us now and let us help you get the person you love back home.