What is an Arkansas Lost Instrument Bond?
Get replacements for your valuable lost instruments through this bond!
We get it. Losing an important item is hard enough.
Losing an important financial instrument? Well, that one is headache-inducing.
There are requirements that you need to fulfill before your precious instrument is replaced. One of the most important of which is a surety 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.
What are instruments?
Instruments are legal documents that have financial value. Some examples of these so-called necessary instruments are as follows:
- Stock Certificate
- Cashier’s Check
- Real Estate Certificates
- Bond Futures
- Treasury Bills
- Certificate of Deposit
What is the bond amount for Arkansas Lost Instrument Bond?
The bond amount varies widely. The surety bond cost, however, will depend on the value of the instrument.
Instruments that have a value of $5,000 or less can have a surety bond cost of $100.
For instruments that have more than $5,000 in value, the surety bond cost 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 get an Arkansas Lost Instrument Bond?
Get this bond today, just follow the steps below:
STEP 1: Apply
If you are ready to submit your application for this type of bond, you may easily do it HERE!
Don’t worry! We will guide you through the whole process.
STEP 2: Underwriting
Once we have received your application, we will ask you a couple of important details needed for the underwriting process. This will include your financial history, your job performance history, and your credit score. An expert underwriter will evaluate all those.
STEP 3: Bond Execution
After you have satisfied the underwriter’s checklist, the bond will immediately be issued and sent to you!
What is the process of replacing a lost instrument?
This will vary per issuing authority. Each has its own set of rules regarding instrument replacement. However, there are some common factors in this process such as the following:
- You will have to submit a written statement about the circumstances of the lost instrument
- You must submit a surety bond
- You will be asked to submit proof of identity
- You must submit an affidavit stating all pertinent facts about the lost instrument
Are you ready to get your lost instrument replaced? APPLY HERE today!