Standard Form 274 - Reinsurance Agreement For A Miller Act Payment Bond Page 2

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2. The Reinsuring Company and the Direct Writing Company covenant and agree that, in the case of default on the payment bond for the "Amount of this
Reinsurance," or more, the persons given a "right of action" or a "right to sue" on the payment bond by section 2(a) of the Miller Act (40 U.S.C. 270b(a)) may
bring suit against the Reinsuring Company in the United States District Court for the district in which the contract described above is to be performed and
executed for the "Amount of this Reinsurance" or, if the amount of the default is for less than the "Amount of this Reinsurance," for whatever the full amount of
the default may be. The Reinsuring Company further covenants and agrees to comply with all requirements necessary to give such court jurisdiction, and to
consent to determination of matters arising under this Reinsurance Agreement in accordance with the law and practice of the court. It is expressly understood
by the parties that the rights, powers, and privileges which they might have under the statutes of the United States, any States, or the other laws of ether, and
should not be construed as limitations.
3. The Reinsuring Company and the Direct Writing Company further covenant and agree that the Reinsuring Company designates the process agent,
appointed by the Direct Writing Company in the district in which the contract is to be performed and executed, as an agent to accept service of process in any
suit instituted on this Reinsurance Agreement, and that the process agent shall send, by registered mail, to the Reinsuring Company at its principal place of
business shown above, a copy of the process.
4. The Reinsuring Company and the Direct Writing Company further covenant and agree that this Reinsurance Agreement is an integral part of the
payment bond.
WITNESS:
The Direct Writing Company and the Reinsuring Company, respectively, have caused this Agreement to be signed and impressed with their respective
corporate seals by officers possessing the power to sign this instrument, and to be duly attested to by officers empowered thereto, on the day and date in Item
1A written opposite their respective names.
5. DIRECT WRITING COMPANY
5A. (1) SIGNATURE
(2) ATTEST SIGNATURE
Corporate
5B. (1) NAME AND TITLE (Typed)
(2) NAME AND TITLE (Typed)
Seal
6. REINSURING COMPANY
6A. (1) SIGNATURE
(2) ATTEST SIGNATURE
Corporate
6B. (1) NAME AND TITLE (Typed)
(2) NAME AND TITLE (Typed)
Seal
INSTRUCTIONS
This form is to be used in cases where it is desired to cover the excess of a Direct Writing Company's
underwriting limitation by reinsurance instead of co-insurance on Miller Act payment bonds running to
the United States. See FAR (48 CFR) 28.202-1 and 53.228(i).
Execute and file this form as follows:
Original and copies (as specified by the bond-approving officer), signed and sealed, shall accompany
the bond or be filed within the time period shown in bid or proposal.
One carbon copy, signed and sealed, shall accompany the Direct Writing Company's quarterly Schedule
of Excess Risks filled with the Department of Treasury.
Other copies may be prepared for the use of the Direct Writing Company and Reinsuring Company.
Each Reinsuring Company should use a separate form.
STANDARD FORM 274 (REV. 10-98) BACK

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