I need to send some paper share certificates through the post to my share dealing company.
What is the best way to do this ? The best Royal Mail seem to offer is Special Delivery Next Daywhich, if I pay extra, has a max insured value of £2.5K which is too low.
What happens if my certificates get lost/stolen ? Can they be easily used by anyone else ?
Can I ring up the registrars if I realise that they are missing and get a block put on particular Certificate Numbers ?
Thanks.
J.
Just send them in the ordinary post. The paper they are written on has no intrinsic value and they are not likely to get lost (yes, I know it does happen). If they do get lost then you'll be able to get replacements from the registrar at a cost of IIRC 25. Nobody can 'use' your certificates because they have to be the registered owners to do so and would get found out in the process.
Rob Graham
By the time you get a duplicate you have to pay around 35 for a duplicate plus at least the same again for an indemnity and counter indemnity, in the meantime you will have to pay for any losses on the deal which you have to settle up within 10 / 14 days. Registered is a good way of sending certificates. I agree the intrinsic value of a share certificate to a thief is nil but the time spent sorting out the paperwork is worth the 4.50 or so. You could also consider transferring your portfolio to the Crest system to be held electronically.
"Eric Jones" wrote
"Registered" what?
AFAIK there is no such thing as 'Registered' nowadays. And Recorded Delivery does not guarantee anything - only that it requires a signature.
Rob
Ok Special delivery with next day guaranteed!
What is the world coming to? Next thing you know they will be doing away with Telegrams! :-)
That is what I am actually doing rather than settling a deal. Trouble is you still have to send the certificates in but at least it's only once...
Thanks for the advice folks. Looks like Special Delivery Next Day should provide enough cover for lost paperwork in my case.
J.
Special Delivery is very safe. the proportion of SD mail that is lost is ver yvery small. SD is handled separately form the ordinary mail. OTOH "signed for " (recorded delivery") mail gets lost at about the same rate as ordinary mail IIRC and is sent through the same system.
Robert
"RobertL" wrote
When did that change, then? It used to be sent through the usual system, didn't it?
I believe that pecial delivery has always been a separare channel from ordinary post. However, the royalmail website does not seem to say whether it is or isn't.
Robert
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