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 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.
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. When the client fails to honour the terms and conditions of the agreement that is the required percentage of the bond; the company is permitted by law to apprehend the client and take him to court.
It is right for the individual or group of individuals who want to form a bail bonds company so that the company is able competes favourably with other firms offering the same services and also to ensure that it remains relevant to future expectations of the 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. 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 benefit is shortening the time in jail; this is because in case the accused is unable to pay the stated bail, he will be staying in jail waiting for the set court date There is a concept of quick service and processing since the bail bonds company layers are aware of court proceedings hence the bail process is done quickly and efficiently.