How Do Bail Bondsmen Get Paid?
Following an arrest for a crime, bail may be set. Bail is a monetary amount that serves as insurance that the defendant will appear in court. This is a one time fee to secure your release from jail. The amount of bail depends on the accused charges. Bail bonds allow defendants a release from jail by paying a bail premium to a bail bonds agent. Bail companies are insurance companies that guarantee the appearance of defendant in court.
Oklahoma Bail Premium
So what is Oklahoma bail premium typically? Bail bondsmen take the bail premium as their fee. The bail insurance companies will guarantee the face value of the bail to the courts. If the defendant keeps all his or her court appearances, he or she will not owe any more money to the bail bondsman. If he or she fails to appear in court, the bail bondsman will have to pay the face value of the bail to the court. The bondsman will in turn, seek to recover those damages from the cosigner of the bond.
Security and Indemnity
Because of the risk, bail bondsmen need security before they will agree to bond someone out of jail. The security might be real or personal property such as a home, car, stocks, or jewelry. If the person fails to appear, the bondsman will use the collateral to pay the court the existing balance. Even if the court dismisses the case, the bail bondsman will keep the bail premium. For more questions on how the bail system works, contact Signature Bail Bonds of Tulsa today! Our agents are standing by and ready to help you twenty four hours a day.