What is a New York Lost Instrument bond?
Get replacements for your important lost instruments through this bond!
Losing a valuable instrument such as stock certificates, real estate certificates, certificate of deposit, treasury bills, bond futures, cashier’s check, or passbooks can be a burden.
Having them replaced shouldn’t be! Being the ultimate guarantor, this surety bond will help you get a replacement in no time!
When you apply for a lost or damaged instrument replacement, the issuing authority will ask you to submit a surety bond to ensure the following:
- Indemnify the issuing authority in case another person files a claim, actions, or any charges once the instrument has been issued.
- Act as an assurance that you will surrender the new instrument to the issuing authority or surety for proper disposal if you’ve found the instrument that went missing.
What is the Lost Instrument Bond amount?
The bond amount varies widely. It will depend on the value of the instrument that you have lost. The surety bond premium, however, will depend on the value of the instrument, as well as your credit score.
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.
How can I get a Lost Instrument Bond?
To secure this type of bond, you must seek the assistance of a surety bond company.
You will 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
- Your 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 its 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 submit a surety bond
Get your replacement immediately! APPLY NOW!