Posted by LindaD/NJ on 12/6/08 8:08am
Msg #271225

Medallian Guarantee, does anyone know what this is? Thanks

in advance for responces.

Reply by Lee/AR on 12/6/08 8:21am
Msg #271227

Short answer: we don't do them.
Long answer: http://en.wikipedia.org/wiki/Medallion_signature_guarantee

Reply by LindaD/NJ on 12/6/08 8:24am
Msg #271228

Thank you, Lee. Just finding this out for a client that is in need of it. What is it and where to go for it.

Reply by Marian_in_CA on 12/6/08 8:37am
Msg #271230

His bank is the best place for that. n/m

Reply by BobbiCT on 12/6/08 8:42am
Msg #271231

Re: Medallian Guarantee limits now ...

Because the "guarantee" dollar amount of the transaction is guaranteed by the financial entity guarantying the signature, we've recently run across a few investment firms and banks that are limiting the amount they will guarantee.

For example, one client whose signature had to be guaranteed for a transaction over $2M couldn't get a guaranty from his local bank; i.e., the bank now imposes and maximum Medallion Guarantee on a signature of $2M. Client went to the investment company and it guaranteed for the full amount. Otherwise the document would have needed TWO Medallion Signature guarantees; first for $2M and a second for the additional amount that need to be guaranteed.

In these extraordinarily conservative times, we're finding financial institutions are taking no risks, even for well-heeled high net work customers and clients.

Reply by MW/VA on 12/6/08 9:36am
Msg #271234

As a notary, I have been asked about this a # of times. It is a financial term, as some have elaborated on, and has nothing to do with us.

Reply by davidK/CA on 12/6/08 10:43am
Msg #271243

It's a "rubbing"performed by Taxi drivers in large cities

Also now promoted as a new source of "big money" by the XYZ.

Reply by Mia on 12/6/08 2:24pm
Msg #271286

This has been talked about before....

See the following Msg # 162040, 162085 & 191571