If a customer does not have in their posession their original CD for redemption etc, do you have them fill out the idemity bond or are there any other procedures that may work just as well?
Thanks

The idemity bond is issued by an insurance company. Most of the time, when a customer learns they have to pay the insurance company to issue it, the certificate appears. We do have them complete a "lost" cerificate form. In the case of multiple owners (or situations), we started requesting all of the owners, to sign an acknowledgement of the "lost" certificate form so that they are aware of the cerificate not being located. This prevents one person cashing it without the certificate and the other that has the cerificate presenting it later. Plus the check and/or new certificate is issued exactly how the lost one was titled. This places the liability back on the person that signs the check to cash it, if applicable.

Hope this helps.

Opinions are mine not my employer.

Maria gave you a terrific answer, and I have nothing to add. However, based on your screen name, you might have the answer to something that's been nagging at me...

You know the Captain Morgan beer commercial that's been on all the sporting events in the last 6 weeks? The thing that really makes the commercial work is the background lyrics - "big blazing ball...of FIRE"; "feel the burn", etc.

But I can't make out the last one, when the beer dudes are on hockey skates. Any insight?

You both gave excellent information and insight!!Along with idemity bonds, I too am not sure of the commerical message. I would never make as a marketing person.

Too bad. Guess I'll have to pay less attention to the commercials and make more trips to the fridge for beer. As for not being a marketing person, don't sweat it. I've been one, and (apart from an inordinate amount of free lunches and promotional giveaways) you aren't missing much.

You would have to admit it's a great combination...Captain Morgan and Hockey!!

I really dig the name "Captain Morgan" since I am going on vacation next week...Can anyone say Pina Coladas!!

My bank stopped issuing actual CDs for the very reason outlined above. Instead, we handled the accounts as TDOAs and issued a piece of paper that looked like a CD, but was actually a fancy receipt.

We issue paperless CDs as well. I love it! Most customers don't even know it's not the real thing. It makes life much simpler.

I can also echo the observation about customers "finding" the lost instrument when they realize you are not simply going to hand over the money when they sign a piece of paper. I wish my husband could find his lost keys as quickly as that guy found his CD when we told him he had to get a bond!