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$1,000,000 Bond – What to do and what not to do in the Bail Bonding Business

Two things about this article. In this article you’ll notice the family talking about not having a million dollars in collateral. Well 99% of the time you should get collateral for a bond that large, in this case, with such a high profile client I would definetly post this bond WITHOUT collateral. I’ve dealt with a handful of very high profile clients but if/when someone like this (especially George Zimmerman) skips court, trust me you won’t have much to worry about because the U.S. Marshall’s will track him down like a rabid dog and catch him.

So not only do you have the luxury of hunting him you’ll also have law enforcement hunting him. He will not have time to breathe with all that heat on him. In a heartbeat I would take the 10% fee ($100,000) and just do a signature bond. Signature bonds are the lowest form of collateral and require no property to be put up. Basically the person signing is promising to stand good for the bond amount if the defendant skips court.

One quick side not about this article before you read it. In the article I noticed the family said “We are encouraged we can work this out. We paid $15,000 initially for the first bail fee so an additional fee of $85,000 would have to be paid to post this new bond assuming we can work out the collateral issue.”

I’m a Florida bondsman. Unfortunetly for the family, the $15,000 they paid for his first $150,000 bond does not go towards the new $1,000,000 bond. It’s actually a felony for that to occur. If a judge revokes a bond and the bond amount changes whether it’s higher or lower, the bondsman must charge 10%. The bondsman pays a fee to his insurance company on the $15,000 and also must pay a fee on the $1,000,000 bond. If the judge would of let the bond remain at $150,000 it would also be illegal for the bondsman to charge the fee again. You can only charge the 10% ONCE for the same bond and same bond amount.

Here’s the article..enjoy- http://theconservativetreehouse.com/2012/07/06/zimmerman-posts-1-million-dollar-bond-hes-released-from-jail/

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One Comment

  1. I am also a bondsman in NC I’m trying to gain more business, just launched a website, do you have any tips?

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