We can arrange countersignature on letters of indemnity as Guarantor, enabling the registrar to re-issue share certificates.
In the event that a Share or Stock Certificate is lost, missing or damaged the issuing body (i.e. the registrar) may require that the beneficial owner of the shares or stock provide suitable indemnity prior to issuing a replacement certificate. The indemnity is sought to protect the issuing body, and the company shares or stocks are held in, against any potential loss they could sustain should it later transpire the investment had already been sold or otherwise disposed of.
Issuing bodies will usually seek such protection by requesting a Letter of Indemnity prior to issuing a replacement certificate. By signing the indemnity, you are confirming that the original certificate has been lost, stolen or destroyed and agreeing to indemnifying anyone placing reliance on the original certificate against any potential financial loss.
As the issuing body will know little or nothing about the financial standing of the person giving the indemnity, they will often require that an Insurance Company or Bank countersign the Letter of Indemnity. In doing so the counter-signatory acts as Guarantor to indemnify against potential loss as a result of a replacement certificate being issued.
A counter-signed Letter of Indemnity will allow the estate to obtain a replacement certificate and therefore transfer or sell any stocks or shares.
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