Exchange Resources, Inc. (ERI) is one of the largest independent qualified intermediaries and is engaged in tax-deferred exchanges throughout the United States. The protection of our clients' funds is of the utmost importance as demostrated through the various safeguards ERI has established to secure its investors' funds.
Fidelity Bond | ERI carries a fidelity bond that ensures funds held by ERI in the amount of $1 million. This coverage insures against a loss of an investor's money due to the wrongdoing of a qualified intermediary employee. ERI's fidelity bond is insurred by Starr Indemnity and Liability Company of New York City, policy number WCSIFIN20003409.
Errors & Omissions Insurance Policy |ERI's Policy ERI also carries a separate Errors and Omissions Insurance Policy in the amount of $1 million. This coverage insures against a loss due to errors and/or omissions related to professional services rendered in connection with the §1031 exchange transaction.
Separate Bank Account for Each Investor ERI provides a separate bank account for each investor and does not commingle an investor's exchange funds. By maintaining separate accounts, an investor can request an individual statement issued by Union Bank of California. All accounts are FDIC insured.
Investor's Authorization of Exchange Funds An Investor has the ability to authorize the release of their funds in the exchange account directly with Union Bank of California by a "courtesy call" from the bank.
Surety Bond through Union Bank of California An investor may request a Surety Bond for the investor's individual exchange account to insure against a loss which would exceed the amount covered by the FDIC.
We Provide the Maximum Safety of Funds in the Industry ERI is a proven leader in §1031 exchanges. Our reputation is unsurpassed because of our experience, client responsiveness and decidation to safeguarding our clients' funds.