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Old 11-04-2008, 11:23 AM
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Join Date: Oct 2007
Posts: 401
Default Cancel Mid-Term
I have a mortgage broker bond that I no longer need. Can I cancel my bond mid-term?
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Old 11-05-2008, 10:09 AM
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Join Date: Sep 2008
Posts: 110
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Sure you can cancel the bond mid term. If it is in the first year of the bond there will not be any refund of premium as the bond is fully earned within the first year. If it is during the second year or later there may be a return of premium. It will be prorated to reflect time used and any cancellation clause that is in the bond form.
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