What is an Alabama Lost Instrument Bond?
Get replacements for your important lost instruments through this bond!
A surety bond is one of the most important requirements of having a lost instrument replaced.
Issuing authorities will require you to submit this type of bond to protect them in case another person files a claim on the instrument that’s been replaced.
This type of surety bond will also act as an assurance that if the principal found the lost instrument after it has been replaced the principal will surrender the new one to the issuing authority or surety for proper disposal.
Instruments are legal documents that have financial value. Some examples of these so-called important instruments are as follows:
- Stock Certificate
- Real Estate Certificates
- Certificate of Deposit
- Treasury Bills
- Bond Futures
- Cashier’s Check
What is the bond amount?
The bond amount varies widely. The surety bond premium, however, will depend on the value of the instrument.
Instruments that have a value of $5,000 or less can have a surety bond premium of $100.
For instruments that have more than $5,000 in value, the surety bond premium that you need to pay will be $20 per one thousand.
If you want to determine what you need to pay right now, get your FREE quote HERE!
How can I obtain this bond?
To secure this type of bond, you, the Principal, must seek the assistance of a surety bond company.
You will first be asked to apply for this bond. If you’re ready to apply for one right now, you may easily do so HERE!
Once the application is received, the surety bond company will immediately process it. In our case, one of our expert surety bond agents will guide you through the whole process from the time you applied for the bond. We will make sure that you understand all the conditions before we issue the bond.
An underwriter will then evaluate the following:
- Your financial strength
- Job/business performance history
- Your credit score
Once the pre-qualification process is fulfilled, we will execute the bond and send it to you!
What is the process of replacing a lost instrument?
This will vary per issuing authority. Each has their own set of rules regarding instrument replacement. However, there are some common factors in this process such as the following:
- You must submit an affidavit stating all pertinent facts about the lost instrument
- You will have to submit a written statement about the circumstances of the lost instrument
- You will be asked to submit proof of identity
- You must provide a surety bond
Are you ready to get your lost instrument replaced? APPLY HERE today!
If you need further information about this bond, you may call us at 800-333-7800!