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Originally Posted by Bond Magician Why do you require a cashier's check for the high-risk program? Why can't I just send you a regular check? |
As with most bonds, but especially the ones under the high-risk program, premiums are fully earned upon issuance of the bond. By requiring a cashier's check, we don't have to worry that the check will not be honored when depositing it, hence being stuck with the full year premium.