Bail bondsmen have a special function in the society especially in terms of preserving public safety by means of providing financial services. They are providing funds for bail allowing defendants to be released. They do this before the actual trial allowing them to prepare for a strong defense. These bail professionals also serve assurance that the defendants would appear on their scheduled court date.
Majority of the bail bonds are actually financial agreements that are supported by some form of collateral. If the defendant failed to show up on the agreed date, the bail company has the rights to legally acquire the asset used as collateral.
So for those who are currently in search of “bail bondsman near me” better take time to do research first.
5 Steps to Be Completed before Becoming a Bondsman
As for the bail bond agent themselves, becoming one takes a 5-step process. This is what will be discussed in the next lines.
Step #1: Determine eligibility – being a bondsman is challenging. It requires knowledge of contract law, criminal law and finance. Thus, majority of the state licensing boards are agencies within the state department of insurance and they’re requiring aspiring bail bond agents to meet certain criteria to be licensed. These include:
- Must be of legal age
- Has a GED or high school diploma
- Completed the pre-licensing course
- Passed the state licensure exam
- Possess adequate financial resources to meet surety obligations and;
- Have sponsorship of surety company
Step #2. Complete educational & training requirements – while only high school diploma is being required, most successful agents are taking the challenges of their profession by pursuing a college degree.
Believe it or not, most bond agents have any of the following:
- Associate Degree
- Bachelor’s Degree
- Master’s Degree
All said degrees have in relation to finance, law or business administration.
Step #3. Pass the state licensing exam – learning the exact requirements to be taken before the exam is crucial. For instance, not having the certificate proving that you’ve completed pre-licensing course or credit card to pay the fingerprint submission might be enough grounds to disqualify you from the exam.
Step #4. Apply for state license – as for the process of acquiring licensure, it normally involves the completion of procedure like:
- Submission of application which can be found on the homepage of department of insurance of your state
- Provide licensing fee in form of money order, credit card or check
- Submit scores from state licensing exam
- Documentation of the surety company sponsorship and;
- Submission of the bond for the amount mandated by the state.
Step #5. Join or start a bail company – new breed of licensed bail bondsman are joining an already established bail company. This then allows them to understand the industry even further and expand their network of financial partners.
After acquiring wisdom, there are some who decide to put up their own bail company where they are required to submit a surety bond, apply for a firm license and also, integrate the business under the state law.
Seems Easy but it is Not
It may look relatively easy to become an agent but it takes serious hard work and commitment to succeed in each and every step.