A bail is a specific sum of money that an individual charged with a criminal offence pays to a court as decided by a judge so that he is released to the community as he awaits his trial; the court then holds the money until the trial is completed and if the accused meets the conditions of bail, his money is returned back. In many occasions, the individual who is charged with a criminal offence is unable to pay the money as required by a court of law and therefore a bail bonds company comes in, sells him a surety bond by paying the court the required value as an insurance that the individual will appear before the court of law when required to do so.
Bail bonds companies make money from their services by charging some percentage of the amount of bond though it 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.
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 individual wishing to from a bail bonds company should identify a business gap, this can be realized by identifying aspects such as insufficient services provided by existing bail bonds companies or low-quality services offered by similar companies. The second step is looking for the required capital that needs to form the bail bonds company; it can either be from the individuals own savings, borrowing or acquisition of a loan. The final subsequent steps of forming 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 aspect of less disruption to the immediate family of the accused is dealt with because the judge may ask for a lot of money which may not be available within that 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. 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.