It was a complicated deal. an estate was the principal (party requesting the bond) and the administrator of the estate had some credit issues. The transfer agent provided a quote for the necessary bonds, however, the principal wanted to save money on lost securities bonds and asked for a quote from Surety1. The quote from the transfer agent was over $70,000 for 2 bonds. Surety1’s quote was around $50,000 for the same product, a 40% discount on the price. The bond was accepted and the principal was able to receive new stock certificates. The bonds were issued the same day they were applied for.
Most transfer agents either own a surety bond agency or have a close association with a surety bond agency. They usually represent one or two surety bond markets and have a set price for the bonds. At Surety1, we represent over a dozen surety bond markets and we shop of r the best possible price for the bond.
Its simple. Complete our easy to navigate, online application and usually within 1 business day a surety bond professional from Surety1 will provide you with a firm quote for your lost securities bond. All of our bonds meet or exceed the minimum requirements of the transfer agents. In laymen’s terms, the transfer agency is the entity that manages a company’s issuance and replacement of stock certificates. Once you notify the transfer agent that the stocks have been lost or misplaced, the agent will issue a stop notice on the certificates, much like issuing a stop payment on a check.
Surety1 is an AssuredPartners Agency and has been the internet’s premier provider of surety bonds since 2003. Based in Rancho Cordova California (Sacramento), Surety1 is licensed to do business in all 50 states and maintains an A+ rating from the Better Business Bureau. If you want to save money on Lost Securities Bonds, Surety1 is here to help.