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LOST INSTRUMENT BOND APPLICATION - Globex Transfer, LLC

LOST INSTRUMENT BOND APPLICATION - Globex Transfer, LLC 2025

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The document is a Lost Instrument Bond Application form that requires detailed information from the applicant regarding their identity, ownership, and circumstances surrounding the loss of a financial instrument. It includes sections for personal details, legal history, and specifics about the lost instrument, along with an indemnity agreement to protect the surety company from potential claims. The document emphasizes the need for accuracy and completeness in the application process.

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How does a lost instrument bond work?

Financial institutions often require lost instrument bonds before issuing a duplicate of a misplaced financial certificate. A lost instrument bond guarantees that if the original lost instrument shows up in the future the bonded party will not be able to cash it.

How much does a lost instrument bond cost?

A fairly typical cost guideline is $20 for every $1,000 of value of the lost instrument. If a promissory note for $50,000 was lost, you would probably have to pay in the neighborhood of $1,000 to the surety company to purchase a bond covering the amount of the certificate.

How much does a $5000 surety bond cost?

For applicants with good credit, surety bonds usually cost between 1% and 5% of their value. Therefore, for a surety bond of $5,000, an applicant with a strong credit history can expect to pay between $50 and $250.

What is an indemnity bond for lost instruments?

A Lost Instrument Bond (also known as a Lost Note or Lost Deed Bond) is used when a financial certificate is lost or stolen. Before the bank or financial institution issues you a replacement, they might require you to secure a Lost Note Bond.

What does lost instrument bond mean?

A Lost Instrument Bond helps guarantee that if the original lost or stolen cashiers check shows up, the bonded party will be less inclined to cash it, too.

How much does a $20,000 surety bond cost?

Surety Bond Cost Table Surety Bond AmountYearly Premium Excellent Credit (675 and above)Average Credit (600-675) $15,000 Surety Bond $150 - $450 $450 - $750 $20,000 Surety Bond $200 - $600 $600 - $1,000 $25,000 Surety Bond $250 - $750 $750 - $1,2509 more rows

How much does a $200 000 bond cost?

The standard fee is 10% of the total bail amount. So, for a $200,000 bail, you would typically pay $20,000 to a bail bondsman. This fee is non-refundable, even if the charges are dropped or the defendant is found not guilty. However, its important to consider additional costs that might arise.

LOST INSTRUMENT BOND APPLICATION - Globex Transfer, LLC 2025

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