Often, one might find advertisements of bail bondsmen on the internet stating “Bail Bonds in Jacksonville, FL., Click here!” Unknown to many, bail bondsmen put up an excellent money-making business, especially with the rise in unmitigated criminal charges filed in district courts. Here’s how these entrepreneurs make a profit:
Reputable bail bonds office enter into agreements with district courts where they stipulate to posting a defendant’s bond and agree to be bound by such a contract. As such, the court requires the bondsman’s signature without having to pay the cash out front immediately.
In this contract, the court works under the object that the accused would regularly appear in court and that the bail bonds office would pay the full bail amount should the clerk of court require them to.
Through a Non-refundable Cut
Each bail bond business requires the accused or defendant to pay them around 10% of the bail amount posted by the court before their agreements. Such a fee is non-refundable and thus cannot be treated as a preconceived deposit.
Typically, low-tier cases with defendants of a low flight-risk status with high amounts of bail can already make a profit just by the 10% cut. Besides, the bondsman signature is the one required by the court to release the defendant so that they won’t have any legal recourse of action against the bail bonds office.
Through Temporary Hold of Assets
Bail bonds offices make profit only when the accused appears regularly in court. Should the defendant refuse to appear, the bond is called immediately.
This way, the bondsmen are required that any tangible security be placed in their custody: a car, a property, jewelry, or anything of reasonable pecuniary estimation. It is done to ensure that when the defendant escapes their contract and the bondsman to pay the bail in full, they would have secured profit for themselves.
In other words, when the bond is forfeited to the court, the office seizes the properties and assets to sell it and make a profit from the cash paid out as bail. Besides, to secure the defendant’s appearance and continuance of their agreement, guarantors and bondswomen usually hire bounty hunters to collect or follow fugitives of law and their bonds agreement.
Bail bonds guarantors make a profit through the non-refundable 10% cut and the control over a defendant’s assets. It is a business that makes money by reasonably set boundaries and agreements. Nevertheless, it’s a venture that is undoubtedly worth considering for entrepreneurs looking for something new.