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Minnesota Lost Instrument Surety Bond
When a person or a corporation loses a valuable and redeemable instrument, the issuer will not deliver a duplicate until the owner furnishes a Lost Instrument Surety Bond.
A Lost instrument Surety Bond is required for redeemable items of value such as a:
- Cashiers Checks
- Stock Certificates
- Promissory Note
- Savings Bonds
- Certificates of Deposit
- Check or Money Order
- Life Insurance Policy
- Deed of Trust
- Membership Certificates
- Warehouse Receipts
- Interest Coupon
- Savings Bankbook
- Municipal Bond
- Corporate Bond
The bond guarantees that the Principal will protect and hold harmless from loss or expense suffered as a result of duplicate issuance of an instrument. Lost Instrument Surety Bonds can have either a Fixed Penalty or Open Penalty with regard to the penal amount and are most commonly required by Banks, Transfer Agents, Brokerage Firms, Individuals and companies that lose a stock certificate, mortgage note or other redeemable item of value.
- Fixed Penalty is as it sounds, the penal sum of the bond is a specific set amount.
- Open Penalty is a fluctuating amount, never set to a specific amount.
The required amounts and types of bonds are always specified by the obligee and directly related to the value of the lost instrument.
Get started now! Follow the link below to apply for your Minnestoa Lost Instrument Surety Bond and let our expert staff get the bond you need at the lowest possible price!
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Need help with your Minnesota Lost Instrument Surety Bond??
- Call us and let our staff walk you through the process - 800-737-4880
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