A bail is a specific sum of money that an individual charged with a criminal offence pays to a court as decided by a judge so that he is released to the community as he awaits his trial; the court then holds the money until the trial is completed and if the accused meets the conditions of bail, his money is returned back. In major cases, the person charged of committing a crime may not be able to raise the required amount of money as determined by the judge neither from his relatives nor his friends; a bail bonds company then steps in, sells him 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. Number one step of forming a bail bonds company is to carefully study an existing market and look for business gaps such as low-quality services provide by existing bail bonds company or insufficient services by bail bonds company to meet the market demands. 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 importance of the bail bond companies is shortening the time in jail of the accused; this is because if he is unable to pay the bail, he will remain in jail waiting for the date when his case will be heard in court. 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