A Lost Instrument Bond is required in Colorado for any lost, stolen or destroyed valuable document or instrument that you may own.
The bond protects the original issuer from any financial loss as a result of issuing a duplicate. Most often the original issuer will require a bond prior to re-issuance of the document or instrument in order to protect themselves from any loss.
Types of Surety Bonds:Fixed Penalty Bonds are for instruments with a fixed value such as a promissory note or money order.
The most common types of lost instruments are common and preferred stock certificates. Other examples include:
Colorado requires a lost instrument bond for lost promissory notes. The bond amount will be the amount of the promissory note x 1/2 equasl the total bond amount. For example if the promissory note was for $50,000 the bond amount will need to be 1/2 times more ($25,000) =$75,000.
If a Surety Bond is a requirement in order to replace your missing important document or instrument, contact SuretyGroup.com and we can help.
The cost is called a premium that you pay for your bond. The cost depends on the type of bond needed (open or fixed penalty) and the value of the document. Let our Surety Bond Specialists provide you with a free, no-obligation quote.
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