Exeter News Wire
William L. Exeter
President and Chief Executive Officer
Exeter 1031 Exchange Services, LLC
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FOR IMMEDIATE RELEASE
Exeter 1031 Binds $30 Million In Fidelity Bond Coverage
Significant Insurance Protection For Its Clients' 1031 Exchange Funds
February 9, 2006--San Diego, California--Exeter 1031 Exchange Services, LLC committed to and bound a $30 million fidelity bond and $3 million in errors and omissions insurance coverage in order to protect is clients' 1031 exchange funds.
"Many Investors do not realize that Qualified Intermediaries (Accommodators) are not regulated, not licensed and not required to be insured or bonded. It is therefore extremely important for each Qualified Intermediary to take the necessary and prudent steps to ensure that its clients are protected from embezzlement of funds, human error and other losses," said Mr. William L. Exeter, president and chief executive office, Exeter 1031 Exchange Services, LLC.
Mr. Exeter further stated, "Exeter 1031 Exchange Services, LLC understands these risks and believes very strongly that its clients must be protected with the appropriate levels of insurance and bonding, and has therefore arranged for these significant coverages. We take nothing for granted."
Exeter 1031 Exchange Services, LLC protects its clients with a $30 million per occurrance fidelity bond and $3 million in errors and omissions insurance as well as an array of other general liability protection. This prudent action will ensure that Exeter 1031 Exchange Services will be around decade after decade to service its clients 1031 exchange needs.
Exeter 1031 Exchange Services, LLC is a leading national provider of Qualified Intermediary, Exchange Accommodation Titleholding, and Advisory services for 1031 Exchange transactions pursuant to Section 1031 of the Internal Revenue Code. Exeter 1031 Exchange Services, LLC administers all types of 1031 Exchange transactions, including forward, reverse and improvement (build-to-suit or construction) 1031 Exchange structures, in all 50 states. Exeter 1031 Exchange Services, LLC currently has national office locations in San Diego, Los Angeles, Fresno, and San Francisco, California and Winston-Salem, North Carolina.
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