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.
A given percentage of the required bond is charged by the bail bonds company, and this is how they make money; however 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 first step is to identify a niche, this is a business gap that can be realized by carefully studying the existing market to realize aspects such as low-quality services provide by existing bail bonds companies or insufficient services by bail bonds companies to meet the existing demand of the market. 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 last but not least final steps to realize 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.
The first benefit of the bail bonds companies is the point of less disruption to immediate family members of the accused as money asked by the judge may be hard to find 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