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Administrative Guarantees support the granting of letters of administration. The bond guarantees against breach on the part of an administrator to collect and administer the estate according to the law. A breach could either relate to fraud or failure to carry out statutory duties.

Whilst the guarantee is lodged with the Probate Registry or The Bailiwick of Guernsey, its purpose is to protect any person having an interest in the administration of the estate.

In the event of a claim the primary obligation for restitution lies with the administrator. Action can only be taken against the Surety with the leave of the court.

The guarantee will remain in force until the estate has been disposed of.

Risks where any/all parties are based over-seas are not quoted against these rates and reference to the Insurer should be made to the Insurer before a premium will be calculated.

Further Information in relation to Guarantees in the UK can be found in the Administration of Estates Act 1959 or from the relevant Probate Registry. The Bailiwick of Guernsey will be able to provide further information in regards to bonds for Guernsey.

All quotations are at nil commission and is not subject to Insurance Premium Tax.

Information Required to quote:

1. Name & address of enquirer
2. Name of Deceased
3. Value of Bond
4. Minor Beneficiaries - if yes will require written confirmation that monies due to the minor are to be held in trust jointly by the Administrator and the solicitors acting until such time as the minor reaches the age of majority
5. Missing Beneficiaries - if yes will require written confirmation that a suitable Missing Beneficiary policy is in place before sealing a bond MBI are offered by the NU Legal Indemnities team (01603 685 809)
6. Estates of over £100k additionally require an Inventory of the Assets of the Estate/Statement of Accounts

Quotation subject to:

1. A satisfactory proposal
2. A cheque, (made payable to Norwich Union Insurance Ltd), for the premium
3. Any relevant additional info - Point 4, 5, 6
4. Guernesy Bond/Non- NI bonds - the engrossed bond document obtainable direct from the Court

Proposal

This proposal form needs to be completed and submitted along with supporting requested documentation to: Guarantee@norwich-union.co.uk