An Overview Of Bail Bonds
A bail bondsmen, bail bondsman or bail bonds company is any individual, corporation or agency that will perform as a guarantee and assure the financial responsibility of another individual, corporation or agency for the appearance of said defendant in legal court. This person or company will then pay the bail amount to the concerned party if the latter failed to appear on the court date as required by law. The money thus paid to the bail bondsmen or bail bonds company will then be forwarded to the concerned agency for use as it shall require. There are different types of bail bondsmen available depending upon their experience and background. For more details click affordable bail bondsmen near Bassett VA.
In most cases, bail bondsmen work with companies that provide them with collateral or securities to secure the amount that needs to be insured. Usually, these securities are real estate properties such as automobiles, jewelry, business properties, planes, etc. Most companies who work with bondsmen also work with co-signers, who are equally responsible for ensuring that the bail amount is properly collected. A co-signer can be anyone; a friend, relative or an acquaintance who co-signs for the bail bondsman. The bondsman provides collateral for the bail bonds company by presenting his/her personal property. If the bail bondsman fails to deliver the promised amount as per the agreement, the co-signer has the option of providing additional funds to ensure that the bondsman delivers the amount on court date.
There are different laws governing the bail bondsmen. Most states do not allow bondsmen to collect money without a court order from the accused. Generally, when the accused does not show up for his/her scheduled hearing date, the court must issue an eviction notice which authorizes the bondsman to take possession of the personal property used as collateral and resell it to satisfy the debt. However, some states allow bondsmen to sell the bonds, instead of collecting the money from the owner. Under these circumstances, the bondsman is not required to provide any court orders.