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What Does Mean by Bail Bond Annual Premiums?
domestic violence bail bonds In the bail bond industry, bail bond premiums are fees based on the total bail assigned to a defendant during an arrest or set by a judge during an arraignment or bail hearing. After the bail is set, indemnitors who sign for the defendant bail bond and the bail agent negotiate fees, payment plan terms if applicable and discounts the signers maybe eligible for. As an example, say John has a bail set at $100,000. The bail industry would typically charge a 10% fee on the face value of the bond. At CBB bail bonds, the first thing we do is check to see what discounts the clients are eligible for. Examples of how someone can be eligible for discounts are; retained lawyers discount, veteran discount, paid in full discount, full collateral discount, union member discounts, military discounts, senior citizen discounts, law enforcement discounts. And in addition to eligible discounts, under proposition 103, we can apply deeper discounted rates which in turn can help save thousands of dollars. Back to our example with John, John’s brother decides to bail out his brother, John has retained private counsel and is willing to pay in full instead of doing a payment plan and or decides to collateralize the bond. In this example instead of being charged $10,000 for the bail bond premium, at CBB bail bonds, we would discount $4,000 off the price bringing down John’s premium to $6,000. In some cases, we can bring our premiums down to even cheaper rates. We strive to offer our clients the best rates with unmatched customer satisfaction. Annual bail premiums imply that bail agencies can charge fees or the entire bond premium to renew a defendant’s bond specified by a time frame typically outlined in the terms and conditions of a bail contract. Its no surprise that people can be caught by surprise and not be aware of these fees. At CBB Bail Bonds, not only are we 100% transparent with our clients, but we will never charge our clients for renewal fees or new bail bond premiums.
Is It Legal to Charge Renewal Premiums?
home about us services There are no laws that regulate or prohibit a bail bond company from charging renewable premiums. Therefore, there is confusion with individuals who are released out on bond and do not do the research or read through the bail agreements. We know that when people call us for help, sometimes they do not know what questions to ask or where to start. Our professional staff is knowledgeable and will help walk you through the process. We will never take advantage of someone. We want people to trust us and refer us if the time were to ever come. This mindset is what has allowed us to grow and provide a different kind of bail bond service.
When Are Bail Bond Renewable Premiums Due?
bond annual premiums Bail bond renewable premium terms are typically outlined in the bail bond agreement between the indemnitor and or defendant contracts. Some agencies stipulate renewable premiums at one-year intervals and others at 2 years. It is important to understand these terms in the beginning and or ask the questions before signing a contract. Last thing you want is for you or your loved one to be surprised with more fees that you were not expecting. At CBB Bail Bonds, there are no “surprises”, everything is honest and transparent from the beginning.
Why Doesn’t CBB Bail Bonds Charge Annual Premiums?
The answer is simple, we care about our client’s wellbeing. We know that when people call us, its because they are in a tough situation, contacting us is usually the first step someone can take to secure the defendant’s release. Before entering a contract, we at CBB Bail Bonds will take into consider all options before entering a contract. Sometimes, the bail can be set at an amount that is just too high to handle, when things like this occur, we can request a bail hearing through the court to try and negotiate terms of pretrial release. |
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