What is a Washington Lost Instrument Bond?
Get replacements for your valuable lost instruments through this bond!
Most issuing authorities, companies, or governmental entities will require you to obtain a surety bond before your important instrument is replaced.
The most important purpose of this type of bond is to protect the issuing authority in case another person files a claim on the instrument that has 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
- 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 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 acquire a Washington Lost Instrument Bond?
To secure this type of bond, you must seek the assistance of a surety bond company such as Surety Bond Authority.
First, you need to submit a bond application.
Once your application is collected, one of our expert surety bond agents will guide you through the whole process – from application until submission. We will make sure that you understand all the conditions before the bond is issued.
An underwriter will then evaluate the following:
- Your financial strength
- Your job performance history
- Your credit score
- The instrument’s value
Once the prequalification 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 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 provide proof of identity
- You must submit 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 one of our expert surety bond agents!