Canadian Lost Instrument Bonds
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Canadian lost instrument bonds are required to be provided by some institutions in order to obtain certain types of replacement documentation including when an person or organizations loses the original(s):
Examples Of Documentation That Typically Require Lost Instrument Bonds In Order To Replace
- replacement certificates for stocks
- replacement certificates for debenture
- replacement certificates for Canada Savings Bonds
- replacement certificates for Ontario Savings Bonds
- replacement certificates for warrant or other bonds
- life insurance policies
- other financial instruments
How Do Lost Instrument Bonds Work?
Lost instrument bonds guarantee that the issuer of the replacement documentation/security will not suffer any financial or economic loss as a result of a duplicate instrument being issued. A lost instrument bond also serves as a guarantee that if the lost instrument is found in the future, it will be returned to the surety company (like The Guarantee and others) writing the bond for proper disposal so that no future economic loss from this instrument can occur.
Different Types Of Canadian Lost Instrument Bonds
There are a variety of types of Lost Instrument Bonds including:
- Fixed Penalty
- Open Penalty
- Waiver of Probate
How Much Do Canadian Lost Instrument Bonds Cost?
Each type of Canadian lost instrument bond and each Canadian surety company has their own rates for the issuance of the various lost instrument bonds they offer, but typically the premium is calculated by multiplying the the face value of the lost instrument by the lost instrument bond rate.
Where Can I Get a Lost Instrument Bond?
Lost instrument bonds are available from ALIGNED Insurance brokers who work with the top surety and bonding companies in Canada.
Call 1-866-287-0448 To Contact An ALIGNED Insurance Broker Today For A Lost Instrument Bond Or More Information
|ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.|
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