How to start a bail bonding business?
Bail bonding agencies
Bail bondsman help defendants seek bail, thus allowing them to be freed from jail. Usually, a person must give a bondsman about 10% of the bail amount and pledge collateral. A bail bonding agency is responsible for paying the individual’s bail, and track him down if he/ she does not turn up in the court. Bail bonding is a profitable business, but there are certain states that require bail bonding businessmen to acquire license before starting.
#1: Find out about the laws pertaining to license in your state as it can vary from state to state. In certain jurisdictions, bail bonds service is not allowed. Check with your state’s department of insurance or the local criminal court or the sheriff’s office to get information about the license.
#2: To be a bail bondsman, one needs to meet certain criteria. Every state has certain licensing requisites. For instance, there are certain age requirements, completion of training or undertake an education program. A background check of yours will be carried out and fingerprints will be taken. Certain states also require the bondsman to become private detectives and have knowledge in law enforcement.
#3: Familiarize with the state’s laws and bonding process. Read about the laws that have authority over bail bonds and companies. Establish a relationship with the bail bonding agency. Build up a relationship with the law enforcement officials and court clerks in your area.
#4: Once you have applied for a license, you will have to fill an application and pay a certain fee to get a license. Also, get insurance that will involve paying a premium to an insurance company. Find out more details from your state’s department of insurance.
#5: Select a commercial space to start your business, probably near a jail or a courthouse or high traffic area. If your company is located nearer to highways or public transportation, it can be of great help.
#6: Place advertisements in newspapers, telephone directories, hand out flyer near the courthouse and jail area. Send your visiting cards to journalists offering them to be an expert source if they ever need you for any assignments. In case the state department of insurance or court maintains a list of bail bonding agencies, you can have your company name included in it. Also, create a website and use keywords related to bail bonds that can give more visibility to your business.
So, if you want to start a bail bonding company, these tips might come handy.