How does a bail bond work?
The court system will set the amount of bail required for the defendant’s release. Under state law, a company can provide a “bail bond” that guarantees payment of the full bail amount to the court if the defendant does not show up for all scheduled appearances. These bail bonds are offered by licensed bail service providers. For providing the pre-trial release service, bail service providers charge a premium – a percentage of the total bail amount, typically 10%. For example, for a bail amount set at $20,000, the premium would be about $ $2,000 plus any additional fees required. The bail service provider must charge the premium rate that it has filed with the Department of Insurance and the premium is not refundable once the defendant is released.