More About Bail Bond Process - Connecticut
Bail Bonding Application Process
The initial bail application process usually involves an agency approval process, a defendant authorization form, defendant background application, co-signer application(s), an appearance bond form, power of attorney, payment receipt and a unpaid balance agreement if applicable.
CT Bail Bonds Terminology
Did you know that Bail Bonds is also referred to as Bails- Bonds, Bail-Bond, Bail Bonding, Bail-Bail and simply Bonds. Regardless of the combination above, the resulting service is the same. However, the term "Bond" could also relate to investing etc. But, the combination of BAIL BONDS or just the term Bail is very specific and associated with an individual needing to be bailed or the Services of a Bail Bondsman being given. The CT Insurance Dept. defines bail bond agents as "any person who has been approved by the commissioner and appointed by an insurer by power of attorney to execute or countersign bail for the insurer in connection with judicial proceedings."
Person Arrested Out of State
If a person who resides in Connecticut gets arrested in a border state such as Massachusetts or New York, they may NOT be able to use the direct services of a CT's bonding agent. Some bails agencies have a working relationship with operational and Licensed Bail Agents in these states and can at time arrange bail through their insurance carrier for a profit. However, a licensed CT bail agent is NOT authorized to go and personally execute a bail bond in any of the mentioned states.
Payment Plans Regulations (CID)
35% of the premium must be paid immediately up front. A promissory note must be completed at the time the bond is done. The balance owed shall be paid in full not later than fifteen months after the date of the execution of the bail bond. If any payment due is outstanding for more than 60 days, or if the premium owed has not been paid in full at the end of 15 months, the agent shall file a civil action seeking appropriate relief with the court not later than seventy-five days after such due date.
About the 35% CT Bail Regulation
Must people already heard of the 35% BAIL REGULATION. In short, what it means is that any person seeking the services of a bail bondsman, must pay a minimum of 35% of the PREMIUM on any executed bail. So how does it work? Example: Lets say you have a friend locked-up who has a bail of $5,000. First, you have to get the premium which = $500.
How to Determine Bail Bond Premium >>
After you get the premium amount which is the total you will owe if person is bonded, then you do the following equation on your calculator. (For this example using $500 as the Premium)
500 X .35 Which = $175 So, this means that if you don't have the full amount of the premium $500, you can ask for a payment arrangement with the option of paying the minimum allowed 35% Therefore, you will pay $175 down with a balance of $325 Confused? Give us a Call and we will be glad to further explain.