How Bail Bonds / New Mexico Bondsman Works
A Bail Bond enables you to have a friend or relative freed from jail without requiring you to personally post the entire bond amount. The process of posting a bail bond involves a contractual undertaking guaranteed by a bail bondsman and the individual posting bail. Prior to the posting of a bail, the individual (co-signer) contracting the bail bondsman (surety company) to post a bond must guarantee that he will pay the full amount of the bail if the defendant does not appear in court by signing a contract. A family member or a close friend will typically post bail and co-sign. Collateral is occasionally but not always required for a person to be bailed from jail. Usually, a defendant can be bailed from jail on the signature of a qualified family member or friend. To be qualified, the co-signer, in most cases, needs to be employed and/or either rent or owns a home in the surrounding area.
A Bail Bond Agency will typically collect a specific percentage of the total bail amount (as prescribed by law) The typical percentage a New Mexico bondman takes is about 10% of the face amount of the bond. This is called ‘Premium” it is the cost of having a loved one freed from jail. You pay this amount upfront or in certain cases the bail bondsman can arrange financing. Our company accepts cash, credit cards, personal checks and can also provide financing for those who qualify.
Once the contract is signed and payment is received the bail agent will arrange to have your friend or relative’s bond posted and the process of having him freed from jail begins.
When a defendant does not show up to court as required ( or skips the bond ), the co-signer is held liable for the total amount of bail. If the defendant is located and arrested by the bail bondsman, the co-signer is only responsible for expenses the bail agent incurs while searching and capturing the defendant.