The guarantee helps in successfully preventing and kind of unauthorized or fraudulent transfer of securities and allows you make a fair and trusted transaction of your stocks and securities. It can be rightly said that the Medallion Signature Guarantee is a proof of authenticity of the document’s signature and it also limits the transfer agent’s ability if in any case the signature is found to be fraudulent.
There are many people who possess securities in the form of physical certificates and when they want to sell or transfer these securities’ certificates, they need to need to sign the certificates or securities powers. However, it is important that you get your signature guaranteed before a transfer agent will accept the transaction. In this case, you get the help of Medallion Signature Guarantee.
In order to get a Medallion Signature Guarantee, you can contact any bank or any security exchange, or any financial institution that deals with and are authorized to provide Medallion Signature Guarantee. However, one should also be aware that a notary public is not authorized and therefore, cannot provide you with Medallion Signature Guarantee stamp. Moreover, any financial institution that is not authorized cannot provide a Medallion Signature Guarantee.
For your convenience, there are more than seven thousand banks and financial institutions that are authorized to provide Medallion Signature Guarantee and participate in the Medallion Program. You should also know and understand that it is very important that you get the signature authorized and authenticated by Medallion Signature Guarantee because when a Medallion Signature Guarantee is required, any guarantee of signature is not accepted from any institution or bank that is not a participant of the Medallion program.
If you are residing outside the United States and you want to perform a transaction of your shares and stocks in the United States then you can get the Medallion Signature Guarantee through the US embassy located in that country. Moreover, if you are unable to locate and access the US embassy you can even get the help of Military personnel that are stationed outside the United States. These military personnel are can attest the authenticity of their signature. All that is required to do so is for them to appear before an authorized and adjutant or legal officer.
One of the important factors to note when you are dealing with transactions that require Medallion Signature Guarantee is that you have to make sure that the amount of transaction that you want to make should not exceed the amount of the authenticity and surety covered by the Medallion Signature Guarantee. If the amount exceeds the signature guarantee then the transaction will not take place.
The aim of the Medallion Signature Guarantee is to make sure that transactions of stocks and shares are non-fraudulent, authentic and are trusted by all the parties.