In defining a bail, it is a given value of money that one who is charged with a criminal offence pays as decided by a judge so that he is set free as he awaits trial; the court will then hold the money until when the trial is completed, and if the accused meets the conditions of bail, the money is returned back. In many incidences, the person charged with a criminal offence is not able to pay the bail as directed by the judge, a bail bonds company steps in, sells him a surety bond that acts as an insurance that the individual will appear before the court of law when required to.
Bail bonds companies make money from their services by charging some percentage of the amount of bond though it varies from one bail bonds company to another. If the client fails to pay the given percentage as determined by the bail bonds company, the company is permitted by law to apprehend him and take him to court.
A given procedure is followed when one or a group of individuals decide to create a bail bonds company so that the company can compete favourably with firms offering the same services and also be able to meet the future expectations of market trends. The individual wishing to from a bail bonds company should identify a business gap, this can be realized by identifying aspects such as insufficient services provided by existing bail bonds companies or low-quality services offered by similar companies. Next is for the individual to look for the required capital needed to form the company; he can get it from his savings, borrow from friends and relatives or acquire loans. Next steps are to formulate a business plan, look for a team to work with, take care of the legal aspects of the law, have the company logo designed, prepare business cards for the company and finally create the company website.
Number one significance of bail bonds companies is the aspect of less disruption to the family; this is because people get stressed over money that may be asked by the judge within a short period. Another benefit is shortening the time in jail; this is because in case the accused is unable to pay the stated bail, he will be staying in jail waiting for the set court date It saves time when dealing with the bail processes especially when one seeks the services of a bail bonds company as the lawyers are familiar with the court proceedings