Michigan Lost Instrument | Lost Instrument Surety Bond
Also known as: lost instrument bond
Type of Bond
A lost instrument bond is a type of surety bond that provides protection in situations where a financial instrument, such as a stock certificate, promissory note, or negotiable instrument, has been lost or misplaced. The bond serves as a financial guarantee that the issuer of the lost instrument will compensate the rightful owner or holder in case the lost instrument resurfaces and is presented for payment or transfer. The purpose of a lost instrument bond is to ensure that the owner of the lost instrument is not disadvantaged due to its loss or theft. The bond helps provide a remedy for the owner by guaranteeing that if the lost instrument is found and presented by a third party, the bond issuer will indemnify the owner for any valid claims made against the instrument. The bond is typically required by financial institutions, insurance companies, or other entities that issue or guarantee the financial instrument in question. It acts as a form of protection against potential financial loss and helps maintain confidence in the integrity of the financial system. The specific requirements for a lost instrument bond can vary depending on the circumstances and the jurisdiction involved. The bond amount is typically based on the value of the lost instrument or the potential liability associated with its loss. It may be required as a condition for reissuing a new instrument or as a means of providing compensation if the lost instrument is later presented. To obtain a lost instrument bond, the party seeking indemnification will typically work with a surety bond provider. The bond application process typically involves a financial review and underwriting assessment. The bond may need to be renewed annually or as required by the issuing institution or regulatory authorities. It is important to consult with legal and financial professionals to understand the specific requirements and processes associated with lost instrument bonds in a particular jurisdiction.
Program
The price you'll pay for your Lost Instrument Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!
We provide all types of Lost Instrument Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.
Application
The application process for a Lost Instrument Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Lost Instrument Bond Application process.
Obligee Information
An obligee is the entity that is requiring you to have the Lost Instrument bond.
Obligee: Michigan Department Of Labor Economic Growth
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!