DEPARTMENT OF NEW YORK
VETERANS OF FOREIGHN WARS
OF
THE UNITED STATES
Dear Comrade Commander;
One of the most important
communications you will receive during the year concerns the bond of your Unit
Quartermaster. Section 703 of our
National By-Laws requires that each accountable
officer shall be bonded with an indemnity company as surety and the By-Laws
places the responsibility for adequate bonding upon the Commander of the
unit. In any business it is customary to
bond any officer handling funds.
The Department Headquarters
carries a schedule bond for the bonding of Department and Post accountable officers.
This bond runs for a year – from September 1 to August 31 – and premium
payments are made on that basis. All
bonds expire on August 31 and the premium for the new year
is due on September 1.
Any unit may decide whether to
take out a bond with some other surety company or have its funds protected by
the Department Headquarters schedule bond.
But the matter should be given prompt attention because if your Unit
Quartermaster had previously been bonded through the National Headquarters, a
new premium payment is required on September 1.
To take advantage of
Department coverage, all you have to do is to determine what amount of bond is
necessary, fill out and detach the application below and mail it with a check
for the proper amount of annual premium to your Department Quartermaster. Rates
are $5.00 for each $1,000 of coverage with a $5,000 minimum bond. By promptly complying with this requirement
of our By-Laws, you will not only safeguard the funds of your Unit but will
assist your Department by making it possible to complete arrangements for the
next bond year.
COVERAGES OF THE
POLICY REQUIRE THAT:
1.
You
agree to make/or cause to be made, at least annually, an audit of your books
and accounts, including complete verification of all securities and bank
balances, pertaining to each “employee”.
If the above is not complied with, the surety company will refuse to
honor claim of missing funds which cannot be proven by records. Monthly audits and reconciliation of bank
statements may avoid this denial of claim.
2.
The
surety company will not pay for loss resulting from any unauthorized advances
made by an “employee”, to any member for delinquent dues and assessments.
3.
“Employee”
means any duly elected position, as listed in the policy schedule.
4.
The
books and records of the Quartermaster and other accountable
officers must be audited at least quarterly by the Trustees. Failure on the part of the Commander to
strictly enforce Section 218 of the National Manual of Procedures my release
the bonding company of all liability in case of a defalcation.
THIS BOND IS ONLY
FOR THE YEAR SEPTEMBER 1, 20___ TO AUGUST 31, 20___. The funds of your Unit are protected only for
that year. Premium of the following year
will be due September 1, 20___.
SEND APPLICATION AND PAYMENT FOR ANNUAL
PREMIUM TO YOUR DEPARTMENT HEADQUARTERS
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
DETACH AND RETURN WITH PREMIUM CHECK TO YOUR
DEPARTMENT HEADQUARTERS
APPLICATION FOR VFW OFFICERS BOND
YEAR SEPTEMBER 1, 20___ - AUGUST 31, 20___
(Give name, number and location of Unit)
TO
DEPARTMENT QUARTERMASTER:
(Dated) ____________________
I
hereby apply for bond in the principal sum of $________________________________________
for the Quartermaster of the above unit for the fiscal year from September 1,
20___ to August 31, 20___. Premium in
the amount of $___________ is herewith enclosed.
________________________________________
Commander
_________________________________________
Mailing
address
_________________________________________