Bond Redemption

When the time is appropriate for you and your family to sell your bond, please follow these instructions:

Sign and date the back of your bond and send it to the address below. PLEASE NOTE: May 1st is the annual deadline for redeeming bonds. Any redemption received with a postmark after May 1st will result in the member being charged the full CIF fee and the bond will be placed in the queue for redemption at the conclusion of the season. If you are unable to find your actual bond for any reason, please complete the on-line Indemnity Form and submit the form in lieu of the actual bond.

The Capital Improvement Fee (CIF) that is listed annually on your invoice is due every year whether or not you choose to join and pay dues. This fee is used to maintain the pool and property and thus maintain the value of the bonds. Any unpaid CIF fees will be deducted from the value of the bond when it is redeemed.

As soon as your signed bond or indemnity letter is received, you will be put onto our seller's list. Bonds are sold in the order that they are received and begin selling in early spring through mid-June. When your bond is sold, our treasurer will forward a redemption check to you.

Lawrence Park Swim Club bonds must be held for three years from date of purchase in order to be redeemed at full value, minus any past due fees. Bonds turned in for full redemption must be received by May 1st of the current season or by the day and month listed as the purchase date on the original bond, in order to avoid paying the seasonal Capital Improvement Fee.  Bonds held for less than 2 years will forfeit 2/3 of the value when redeemed.  Bonds held between 2 and 3 years will forfeit 1/3 of the bond value when redeemed.

Note:  As an alternative to having his/her bond placed on the seller's list, a bondholder may choose to "swim off" his/her bond.  This option allows the bondholder to use the value of his bond to pay for a final season of dues.  If this option interests you, please send an email to membership@lpswimclub.org with "swim off" in the subject line. 

If you have questions or need further information, please contact  Lawrence Park Swim Club at membership@lpswimclub.org.

 
Lawrence Park Swim Club
Board of Governors

Address to Send Bond Redemption Information:

Lawrence Park Swim Club
P. O. Box 670
Broomall, PA 19008