cost of surety bond lost cashierss check
If there is a claim placed on your bond and you are found at fault, the surety company will pay out. However, you will have to pay them back. These bonds are fairly easy to obtain, all we need is a filled out application. The cost of the bond is 2% of the bond amount with a minimum of $100.Bond amounts over $25,000 do require a credit check and the rate can be higher. Make sure you verify that your bank will accept a surety bond before applying.he bank cannot issue a stop payment on the cashierâs check, so in order to re-issue a new cashierâs check they require a surety bond. If the lost check is brought to the bank and is endorsed they must pay out on the check, in addition to the new re-issued check.