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Bail Bonds 201

Bail Bonds 201

This book describes in detail the mistakes and pitfalls that Bail Agents make when running their businesses. Learn "What to do and What NOT to do" when running your bail bond business.


Price $24.95



Chapter 2: BAILING OUT THE RIGHT PEOPLE

As a bail agent, your business success depends on the bail you write. If you write good bail, for which the defendant meets his obligations to the court and the bail is ultimately exonerated, you can have a rewarding business. If you write risky bail, you are more likely to experience more trouble than success.

Writing good bail requires assessing risk versus reward, which boils down to bailing out the right people for the right reasons. If you don’t, you’ll end up chasing down skips (defendants that defaulted their obligation) and paying forfeitures. Exposing yourself deliberately to forfeitures is not a good business strategy. Higher-risk bonds might seem lucrative, in terms of your premium. But higher-risk bonds are more likely to expose you to forfeitures, and you risk owing a greater amount to the court if the defendant skips. This means a risky bond can cost you more in the long run than the premium you earned.

What are the costs of a forfeiture?

  1. The cost of tracking down the defendant.
  2. The cost of paying the bond amount if the defendant isn’t found.
  3. The risk of losing your surety company backing.

Because forfeitures are one of the fastest ways for a bail agency to go out of business, it’s important to examine the danger of forfeitures in more detail.

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