If you reside in Rhode Island and have a lost, stolen or destroyed valuable document or instrument, then you need a Lost Instrument Bond.
A lost instrument bond protects the original issuer from a financial loss as a result of issuing a duplicate document or instrument. The original issuer will most likely also require an Affidavit of Lost Instrument to ensure that the original instrument is never used if found again.
There are two types of lost instrument bonds, a Fixed Penalty Bond for instruments or documents whose value never changes, and an Open Penalty Bond for instruments or documents whose value can change over a period of time.
There are different types of lost instruments, with the most common being common and preferred stock certificates, as well as, Certificates of Deposit, checks, warehouse receipts, certified checks, life insurance policies, savings bankbooks, money orders and any other type of financial instrument.
If you are unsure the type of lost instrument bond you will need for your missing, destroyed or stolen valuable instrument, SuretyGroup.com can help.
The premium (cost of your bond) will vary depending on the amount of your bond coverage needed and whether you need an open penalty or a fixed penalty bond. Our bond agents at SuretyGroup.com can help you through the process of obtaining the bond that you need.
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