Many people are arrested daily for different reasons. The process can be stressful, especially if the suspect needs to pay bail. Most people don’t have the money for bail. In some cases, friends and family can help bail their loved one out, but in cases where the amount is too high, they may need the services of a bail bonds company. Many people are curious to know where bond money goes and who the beneficiaries are.
The video How Does a Bail Bonds Company Make Money talks about it in detail. The video explains the basic concept of bail and bond companies so simply that even beginners can understand it easily.
Bail is essentially a fee determined by the court. Unless a suspect pays the amount, they will await and attend trial while in jail. There are many different reasons a judge may set bail, and factors such as the crime will determine how high or low the amount charged is. Bail bond companies make their money through a service fee of approximately 10 percent of the total bail amount. A bail company assumes the bail in exchange for collateral of the same value. If the suspect does not comply with the court, they will pay bail and repossess the collateral.
