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Offices located throughout Maryland including the Eastern Shore
BAIL BOND FEES ARE SET BY LAW
In Maryland, like most states, the cost of a bail bond is set by law. As a consumer, you should know that the fee for the bail bond is set at 10% of the full bail amount. For example, if the full bail amount is $25,000, which is the average bond in Maryland, your cost is $2,500. Keep in mind that these rates are non-negotiable and are set by the Maryland Department of Insurance. There should not be any hidden fees or taxes from the bail bond company.
This makes it easy because as a consumer shopping for a bail bond, you don’t need to call multiple bail bond companies to compare rates. Legally, it should all be the same 10% rate.
Often there will be the bail bond companies or bondsmen that try to get your business by offering you a discount, or cheaper Bail Bond. You should know that it’s illegal to charge any more or less than the state approved rate. If you come across a company that is trying to offer you a cheaper or lower rate, keep in mind that they might be acting illegally or it could be a “bait and switch” situation where you get in the office to sign the contracts and they’re offering you what you thought was one rate, it could be something else. Also keep in mind if you’re using your house for collateral: do you really want to be using a company acting unethically. At Lawyers Trust Bail Bonds you’re always going to get the state approved rates.
We offer affordable and flexible payment plan options.
The cost of a bail bond in the State of Maryland is set by law.You should know that the fee for the bail bond is set at 10% of the full bail amount. For example, if the full bail amount is $25,000, which is the average bond in Maryland, your cost is $2,500. Keep in mind that these rates are non-negotiable and are set by the Maryland Department of Insurance.
Payment Options: We tailor our payment requirements to your individual situation. Our bail bond agents can help you select the best option for your situation.
5% Bail premium: The Maryland Department of Insurance sets the amount of a bail bond as 10% of the total bond. If a bail agent offers to arrange a bond for less, they are acting illegally.
Collateral is something of value that is used to ensure performance. Sometimes the bail bond company will receive collateral to ensure that the defendant will appear in court. Most bail bond collateral is in the form of real estate or cash. At Lawyers Trust Bail Bonds, we often negotiate no collateral bail bonds. These are called signature bonds. We find that most of our clients are actually eligible for signature bonds.
When we do require collateral, usually for larger or more risky bonds, we take it in the form of Maryland real estate. A home as collateral gives us peace of mind that the liability is covered and gives the defendant incentive to take care of their legal issues.
When the defendant’s case has been resolved and all financial obligations are satisfied, the collateral is returned to the individual who pledged it. A bail bond company is required by law to return your collateral at the resolution of your case.
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