What is a Mississippi Lost Instrument Bond?
Losing a valuable financial instrument is hard.
Replacing it by acquiring a surety bond shouldn’t be hard!
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 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 amount for a Mississippi 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 today!
How can I secure a Mississippi Lost Instrument Bond?
Secure this bond by following the steps below:
1st Step: 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.
2nd Step: Underwriting
Once we have received your application, we will ask you for a couple of important details needed for the underwriting process. This will include your job performance history, your credit score, and financial history. An expert underwriter will evaluate all those.
3rd Step: Bond Execution
After you have satisfied the underwriter’s checklist, the bond will immediately be issued and sent to you!
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 be asked to submit proof of identity
- You will have to submit a written statement about the circumstances of the lost instrument
- You must submit a surety bond
- You must submit an affidavit stating all pertinent facts about the lost instrument
If you are ready to replace your lost instrument, APPLY HERE today!