A bail bond is a three-party contract between the bail bondsman, the defendant, and the bond’s cosigner (a person who agrees to be held civilly liable for the full sum of the bail if the defendant fails to appear at any of their court dates). Simply put, once you’ve found a suitable cosigner, you should start looking for rates in the 8% to 4% range. Finally, the lower the price, the higher the bail bond and the more reliable the co-signer. For more details click Connecticut Bail Bonds Group.
So, what attributes do you look for in a co-signer? A bail bond is, in essence, a loan for the face value of the bond. As a result, you must understand that these are high-risk loans, and the bail bondsman is looking for a reliable co-signer. 1-Easy to find (Lifelong local resident, has financial or family obligations that would make it difficult to relocate like school age kids and a mortgage) 2-If a forfeiture happens, could pay back the entire face value in a reasonable period of time (has a high income and or extremely stable job, a government employee with a long work record) A bail bondsman is not interested in a heated exchange for a $1,000 bail bond. Your bailee will most likely stay in jail until you pay the bill.
The difference between Surety and Property bail bondsmen is an issue that must be addressed in order to limit the negotiations to bail bonding firms that can truly assist you. We’ll get to that in a moment, but first, let’s take a look at what a typical bail bond entails.A bail bond typically costs 10% of the bond amount, so a bondsman would charge you $100 to post a $1,000 bail bond, for example. It’s common practise in this industry to remind clients that this price is non-negotiable since the percentage rate is set by law and cannot be adjusted. This is only partially real. This is where understanding the differences between the two types of bail bonding companies comes in handy, and it all comes down to collateral.