Can anyone explain how bail bondsmen make money?

Question

I finally have enough loot to start my own business, and I am a felon myself and have used bail bondsmen. However, I have never really learned the process behind how these bondsmen make money. I do know that if the person being bonded doesn't go to court that they have to pay the full amount of whatever bond they were given, and that at the time the bondsmen post bond, it is normally ten percent of the total bond. Any help is appreciated,,,

Answer 1

interest

Answer 2

Same way insurance companies do.

Bonds work like insurance. The person getting it pays a fee, and that fee is kept by the company, whether they pay out or not.

A bond means that the person being bonded will pay a certain amount of money as a fee (in criminal context, usually 10% of the bail). The bondsman then guarantees the bail amount.

If the defendant shows up for the trial, then they are no longer out on bail. So, the bondsman doesn't have to pay. But the bondsman still gets to keep the bond fee, just like an insurance premium payment.