Lost Certificates
The following outlines the process for replacing lost, stolen, misplaced or destroyed certificates.
In all cases, the registered owner will be required to purchase an open penalty bond equal to the fair market value of the security at the time Equity Transfer & Trust Company is notified. The bond protects the company and the transfer agent from any financial liability that may arise from the subsequent sale, transfer or use of the replacement certificate as collateral.
- The Registered Owner of the security must contact our Estates Department, Madelyne Mendoza. We will verify the certificate details and confirm registration.
- The registered owner is required to provide us with written notification by mail or fax that the certificate has been lost.
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We will immediately place a “STOP Notation” on the certificate, which prevents the security from being transferred.
- If the fair market value of the security is less than $50,000Cdn, we will require the registered owner to complete an Agreement of Indemnity/Affidavit of Loss sworn before a Commissioner of Oaths or a Notary Public.
- If the fair market value of the security is greater than $50,000Cdn, we will require the registered owner to directly contact a recognized surety company, licensed to transact business in the Province of Ontario as several underwriting stages are required to obtain an Open Penalty Bond of Indemnity protecting the Company and the Transfer Agent. To assist you in this process, you may contact St. Paul’s Guarantee Insurance Company at 416-642-3747.
- Upon receipt of all the required documentation, we will seek the approval of the Company to cancel the lost certificate and to reissue a new certificate as a replacement.
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Note: We have found that the process can take up to 15 business days from the time we receive all properly completed replacement documentation to the delivery of the replacement certificate.
Endorsed Certificates- are certificates that have the back panel signed by the registered owner and guaranteed by a Canadian Chartered I Bank or a financial institution which is a member of a recognized Medallion Signature Guarantee Program. If the certificate is endorsed, it can easily be sold or used as collateral for a loan. In short, it’s cashable.
To replace a certificate that has been endorsed, the registered owner will be required to follow the replacement procedures and will be required to provide us with an Agreement of Indemnity that the registered owner has not sold, transferred the security or otherwise used it for financial gain. The statement must be sworn before a Commissioner of Oaths or a Notary Public.