What is a Hawaii Lost Instrument Bond?
Creating a robust reputation and building on that reputation is one good way to get ahead in the world of cutthroat business; it is also one of the finest ways to mold one’s vocation into an established career. For those who are engaged in the notary business and who specialize in resolving lost instruments cases, the best way to survive in the industry and be known as a reliable company would be to have access to a Lost Instrument Bond.
The Hawaii Lost Instrument Bond is a guarantee that is above reproach and given by an issuing entity assuring that when financial instruments such as stocks, cashier’s checks, bond certificates, certificates of deposit, and real estate certificates cannot be located — after an orderly and efficient search has been made – such lost items will be substituted. The bond is likewise a comprehensive warranty that if the original missing documents re-surface, the principal will not be able to cash them or make use of them. With the bond, banks will not be financially imperiled by people who go cashing the checks more than once.
Why do you need a Hawaii Lost Instrument Bond?
You need the Hawaii Lost Instrument Bond to save all parties from harm due to the sudden loss or misapplication of a financial instrument. The official documents entrusted to your care are of a delicate nature that if they get lost, the owners of the said instruments are given surety that they will not be compromised either financially or psychologically due to the said instruments’ loss or damage. You also need this bond to protect your professional image and look for your business brand. With this bond, clients achieve peace of mind, and because of that equanimity, they will become the ‘walking advertisements’ of your business.
More details about the Hawaii Lost Instrument Bond
The Hawaii Lost Instrument Bond’s coverage is not applicable to instruments that have been destroyed on purpose or those that have been defaced.
The bond cannot be renewed when it’s beyond its first term and cannot be invalidated or released by the surety, as the lost instrument may resurface at any given time, thereby keeping the accountability still in force in case it rematerializes.
What is the cost of a Hawaii Lost Instrument Bond?
The Hawaii Lost Instrument Bond is not costly. The bond amount is determined by the financial institution that handed out the instrument. Typically, the face value or amount of the lost instrument is multiplied by 1.5 to establish the amount of the bond premium that needs to be paid. Also, just like other types of bonds, the applicant’s credit history can also be a huge factor.
How do I get a Hawaii Lost Instrument Bond?
To save time and money, contact genuine professionals. With Surety Bond Authority taking care of your business affairs, you will have the answers you need and the solution to the concerns you with regards to protecting your business and your clients.