How to Become a Surety Bail Bondsman
A surety bail bond agent or bondsman is often needed to bail a defendant out of jail when he does not have enough money to bail himself out. As a surety bail bondsman, you are responsible for collecting the fees or collateral from the client, making sure that all responsible parties sign the insurance contract and bailing out the defendant upon guaranteeing that he will return to court for his court date. Due to the financial and legal responsibilities involved, surety bail bondsmen are required to be licensed by the state they practice in and be appointed by the insurance company they represent.
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Instructions
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Check with the department of insurance in your state. Each state has certain requirements that must be met in order to obtain a bail bondsman license. Licensing requirements usually include submitting an application, paying an application fee and getting a criminal background check. In some states, like Florida for example, you must first apply for a temporary bail bond agent license. You need to complete a certain number of hours working as a bail bond agent under the supervision of a licensed bail bond agent before being able to apply for a permanent license. Contact your state's department of insurance by phone to ask about the requirements for a surety bail bond agent license. A link to a directory of state department of insurance offices is located in the resource section of this article.
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Complete the pre-license course (if required by your state) and pass the licensing exam. In some states, surety bail bond agents are required to complete a state-approved course that prepares them for the licensing exam and their careers as bail bond agents. The course should cover state regulations and property and casualty insurance guidelines. The course may be available through correspondence or online schools. Check with the department of insurance in your state to obtain a list of approved courses. After you have completed and passed your course, you can schedule your exam. Ask for an exam content outline before you take the exam. This is available through your state department of insurance and will help you prepare for the exam.
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Get appointed by an insurance company to be a bail bond agent. You must be authorized to write bail bonds by an insurance company. The insurance company provides a guarantee for the bail bonds you write. In some states, this is referred to as a surety company, but it really is another way of describing an insurance company. In order to get appointed by one of these companies, you need to request a list of state-approved insurance companies. The department of insurance in your state should have a list of insurance companies that are authorized to write bail bonds. Do your research on these companies by interviewing them and asking other bail bond agents about their reputation. Some insurance companies have a managing general agent (MGA) that works with you and is available to answer your questions. When you decide what surety company you want to work with, you will be asked to sign an agent contract. The contract contains details about your financial and legal responsibilities as a bail bond agent. It will also specify the premium you will need to pay the insurance company for each bail bond you write.
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Deposit your buildup funds (BUF) in an FDIC-approved bank account. Before you can begin writing bail bonds, you will need to deposit your buildup funds. Work with the MGA or insurance company to determine how much money you need to deposit into this account. The buildup funds must be put into a trust account in both your names to pay for any losses incurred by the bail bonds you write. Some states require the insurance company to provide the department of insurance with a bank statement each year as a record of how much money is in the account. You should also keep copies of any bank statements you receive for this account. This money is yours and it will be returned to you if your contract with the insurance company is terminated and after any liabilities are paid.
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