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 occasions, the individual who is charged with a criminal offence is unable to pay the money as required by a court of law and therefore a bail bonds company comes in, sells him a surety bond by paying the court the required value as an insurance that the individual will appear before the court of law when required to do so.
The bail bonds company make money for their services by charging a given percentage of the amount of bond; the percentage varies from one bail bonds company to another. Incase the client fails to honour the agreement that is he fails to pay the required percentage a charged by the bail bonds company; the law permits the company to apprehend the client and take him to court.
Specific steps should be followed keenly in the formation of a bail bonds company by an individual or group of individuals; this is to ensure that that the company competes favourably with other firms offering the same services and also ensure that the company meets 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. The final subsequent steps of forming a bail bonds company are formulation of 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