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INDEMNITY AGREEMENT FOR SURETY BAIL BOND FINANCIAL CASUALTY & SURETY INC. & ALLIANCE BAIL BONDS LLC. THIS AGREEMENT made between the undersigned, (hereinafter called Indemnity(s), FINANCIAL CASUALTY
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How to fill out indemnity agreement for surety

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How to fill out an indemnity agreement for surety:

01
Start by entering the full legal names of the parties involved in the agreement, including the principal (the person or entity requiring the surety) and the indemnitors (those providing the surety).
02
Clearly state the purpose of the indemnity agreement, which is to provide assurance that the indemnitors will indemnify and hold harmless the principal in case of any liability or loss arising from the surety.
03
Include a detailed description of the surety being provided, such as a performance bond or a payment bond, along with its amount and duration.
04
Specify the obligations of the indemnitors, including their responsibility to reimburse the principal for any claims, damages, or expenses incurred due to the surety.
05
Outline any restrictions on the indemnitors, such as limitations on their ability to take legal action against the principal or to make any changes to the terms of the surety without prior written consent.
06
Include provisions for the governing law and jurisdiction, in case any disputes arise between the parties.
07
Have all parties sign and date the indemnity agreement, and consider getting the signatures notarized for added authenticity and enforceability.

Who needs an indemnity agreement for surety?

01
Contractors: Contractors often require surety bonds to secure projects or contracts, and they may ask their subcontractors or suppliers to provide indemnity agreements as a condition of entering into a subcontract or supplying materials.
02
Government agencies: Government agencies commonly require surety bonds as a guarantee of performance or payment on public projects, and they may request indemnity agreements from the sureties involved.
03
Financial institutions: Banks, lenders, and insurance companies that issue surety bonds may need indemnity agreements from individuals or businesses looking to obtain surety bonds for various purposes, such as securing loans or fulfilling contractual obligations.

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